Only Owwa members may apply for reintegration loan assistance-A A +A
Wednesday, July 27, 2011
ONLY overseas Filipino workers (OFWs) who are members of the Overseas Workers Welfare Administration (Owwa), including former OFWs who were also Owwa members, are qualified to apply for the enterprise loan under the P2-billion OFW reintegration program (OFW-RP).
National Reintegration Center for OFWs (NRCO) director Vivian Tornea yesterday issued the statement following queries from non-Owwa members who expressed interest to avail of business loans under said program.
OFWs who have contributed US$25 to Owwa upon the processing of their employment contract at the Philippine Overseas Employment Administration and OFWs who voluntarily registered and paid the Owwa membership contribution at the Philippine Overseas Labor Office are entitled to benefits and services, which include the availing of business loan under the OFW-RP.
The program aims to help OFWs prepare for alternative employment or business undertaking upon their return to the country and provides them with counseling on saving and financial management to help OFWs manage and sustain their overseas earnings; skills training, re-tooling and upgrading to promote their employability and competitiveness; employment facilitation services to help them in their job search, locally or overseas; and livelihood and enterprise development assistance for OFWs who want to set-up a business.
Those who want to avail of the business loan are also required to complete an entrepreneurial development training, which orients participants on various business opportunities, the basics of starting a business and preparing a business plan. It also assesses the participants’ capability to manage any business enterprise to help them find out and address their weaknesses.
Interested OFWs are likewise required to submit a business plan to the Land Bank and Development Bank of the Philippines, which will evaluate the viability of the enterprise they want to set up. (CGC)
Published in the Sun.Star Bacolod newspaper on July 27, 2011.