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    Posted March 24, 2014 by

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    Phl pushes credit assistance for OFWS

    OVERSEAS Filipino Workers will soon get a P50,000-loan under a proposed OFWs Credit Assistance Program to be administered by the Overseas Worker and Welfare Administration (OWWA) in Manila.
    Rep. Mark Villar of Las Piñas City said House Bill 3197 mandates the government and its instrumentalities to promote and carry out programs geared towards advancing the interest of the OFWs by providing them access to credit facilities even before their departure.
    Under the measure, an OFW with a valid employment contract as certified by the POEA may avail of a loan of not more than P50,000 from the OWWA to defray the living expenses of his family during the first three months of absence as well as recruitment expenses including placement fees, documentation costs and plane tickets.
    A member of the OFW family shall participate in the loan as co-borrower, and shall execute necessary documentation to that effect.
    The OFW is required to submit their employment contract, plane ticket and bank account duly certified by the recruitment agency and the POEA.
    "OFWs are called modern-day heroes, contributing immensely to the economic development of the country, reaching $24 Billion remittances per year as per 2012 World Bank report," Villar said.
    Citing data from the POEA, Villar said the number of OFWs working abroad can be found in various fields to include the 222,260 service workers, 146,448 factory workers, 54,617 professional and technical workers, 13,893 clerical workers, 9,346 sales workers, 3,241 administrative and managerial employees and 1,563 agricultural workers.
    "The report also showed that the number of seafarers increased by 75% in the past 10 years. Filipinos constitute 20-25% of all international seafaring crews," Villar said.
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