Watch: Qualified OFWs and Families Can Now Borrow up to P2 Million via OFW-EDLP Program (Video)
The Overseas Workers Welfare Administration (OWWA) and the Department of Trade and Industry (DTI) have joined forces to help the returning OFWs (Overseas Filipino Workers) start their own businesses here in the Philippines. This project under the Duterte administration now allows OFWs to borrow up to P2 million. Watch the news video below.
“The MOU (Memorandum of Understanding) formalizes the partnership of OWWA and DTI to jointly conduct developmental trainings under OWWA’s Enhanced Entrepreneurial Development Training (EEDT) and other related activities.” OWWA said in a press release this Thursday, September 8, with the MOU having signed last Tuesday, September 6.
“OFWs who complete the EEDT (Enhanced Entrepreneurial Development Training) may avail of the loan amounting to Php100,000.00 up to 2Million pesos under the OFW-Enterprise Development and Loan Program (OFW-EDLP) in partnership with LandBank of the Philippines and the Development Bank of the Philippines.” The press release added.
“OFW-EDLP is part of OWWA’s commitment to continually develop and implement welfare programs that respond to the needs of OFWs and their families. With this partnership, an OFW’s dream of owning his/her own enterprise is just a step away” OWWA Administrator Calzado said during the joint signing the MOU with DTI) Undersecretary Zenaida Maglaya.
The EEDT includes business planning, project-specific skills orientation, and necessary knowledge the returning OFWs and their families should before they will start a business. The DTI, along the private sector will also help the qualified OFWs by introducing them in conferences, exhibits and caravans to help them promote their chosen businesses.
In related news, the Regional Welfare Office – National Capital Region (RWO-NCR) has just released the fund to assist the OFWs who are affected by the on-going crisis in Saudi Arabia. Currently, there are 15,233 OFWs in Saudi who have not yet received their salaries, end service benefits, and other benefits they should receive from their employers.
According to OWWA, each returning OFW from Saudi (who was recently welcomed by President Duterte at NAIA) can receive P26,000 after accomplishing the application form and has submitted the required documents. On the other hand, eligible families of the Saudi OFWs who are still in their job site shall receive P6,000 as financial assistance.
For more information about the EEDT and how OFWs from Saudi can get their financial assistance from OWWA, pls visit OWWA’s official website at www.owwa.gov.ph.