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OWWA 6 starts OFW livelihood program
Overseas Filipino Workers in Region 6 could now start a business of their own.
This is the aim of the recently implemented Livelihood Development Program for OFWs (LDPO) of the Overseas Workers Welfare Administration Regional Welfare Office 6. The program provides entrepreneural development services and credit facilities to OFWs, their dependents, and organizations to improve their economic productivity and general welfare.
Implemented with the National Livelihood Support Fund and its network of conduits, the LPDO offers credit assistance to active and former OFWs for working capital, acquisition of fixed assets except land, and building improvement. Individual OFWs can avail of a maximum amount of P200,000 while legally organized OFW groups with at least five members, one million pesos. The credit bears a low interest rate of 9% per annum.
OWWA Loan Officer Noel Chavez said that interested OFWs must present, among others, collateral papers, proof of OWWA membership, and business plan. The LPDO is being implemented initially in the province of Iloilo with Progressive Bank, Inc. serving as conduit. Applicants may go to OWWA Iloilo office at Gen. Luna St., or at Progressive Bank in Balasan, Iloilo.
(OWWA/PIA)