Credit assistance for OFWs fully supported by DOLE, OWWA

The influx of repatriates from other countries have added to the plight of OFW families in the time of COVID-19. Senator Bong Revilla filed a resolution which seeks for credit assistance for returning OFWs.

Sen. Ramon Revilla earlier filed Senate Bill No. 801 which mandates the provision of a Php 50,000 loan for eligible OFWs at an interest rate of 6% per annum.

In a Senate Committee hearing on Labor, Labor Secretary Silvestre Bello expressed his full support for the bill citing the need for OFWs for financial relief.

Sec. Bello reported that the Overseas Workers Welfare Administration (OWWA), which is the lead government office in the mentioned bill, has around Php 18-B allocated for financial assistance and other needs of the affected OFWs.

In a DOH report dated June 8, there have been close to 56,000 OFWs who have returned to the Philippines due to the global effects of COVID-19 on labor.

In a separate statement made by OWWA head Hans Cacdac, an initial funding of Php 700-M has been allocated for the conduct of livelihood programs for OFWs.

 

A separate loan may also be availed by eligible OFWs under the Enterprise Development and Loan Program held in partnership with the Land Bank of the Philippines

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