Owwa extends financial assistance to OFW families-A A +A
Thursday, June 7, 2012
THE Overseas Workers Welfare Administration (Owwa) in Davao awarded Thursday two families of migrant Filipino workers with financial assistance as start-up capital for their business.
The cash assistance was handed out during the National Migrant Workers Day celebration at the NCCC Mall of Davao. This program is under the agency's Overseas Filipino Workers (OFWs) Reintegration Program.
Labor communication officer for Owwa-Davao Crestelito Abadilla said these two families received cash grants provided by the Land Bank of the Philippines.
Abadilla said that Land Bank will initially release the financial assistance for the two beneficiaries. One of two families received P113,200 out of the approved P468,200 cash grant, while the other family received P100,000 out of the P610,000.
Abadilla said they will give the cash assistance gradually so that it will be spent properly. He urged families of the Overseas Filipino Workers (OFWs) to avail themselves of the livelihood program as well.
"Especially, those families who have businesses but need an added capital," he said.
Abadilla said applicants will undergo a two-day entrepreneurial development training to learn how to make a business plan before Owwa can recommend them to LBP for review of their business plan.
The bank will decide whether to approve their proposals or not, based on the doability of the businesses they want to venture.
Some of the businesses applicants would like to venture are distributor of rice, apartment, food manufacturers and acquisition of dental equipment, to name a few.
LBP can award cash grants from P300,000 to P2 million. A total of 10 OFW families have been granted cash assistance since the program started last year. Four families were given assistance in 2011 and six for this year so far.
Published in the Sun.Star Davao newspaper on June 08, 2012.