Labor agency allots P1 billion for OFWs
December 29, 2010
CITY OF SAN FERNANDO — The labor department has allotted at least P1 billion in financial assistance to overseas Filipino workers (OFWs) and their families.
Department of Labor and Employment (Dole) Undersecretary Danilo Cruz said the budget will be to help OFW returnees maximize their savings.
During the “Reintegration Fair 2010” held at the Event Centre of SM City Pampanga here, Cruz said the financial assistance will be released through government banking institutions like the LandBank of the Philippines and Development Bank of the Philippines.
Carmelita Dimzon, chief of the Overseas Workers Welfare Administration (Owwa), said OFW returnees or their families may avail of a loan that can help them start a business.
“With this, we can attract OFW returnees to just stay in the country while earning the same salary that they get from working abroad,” Dimzon said.
Aside from a financial grant, Dimzon said Owwa will also provide financial literacy training to ensure growth of the capital given to recipients.
Cruz said President Benigno Aquino proposed the realization of the financial assistance, which was approved by the Dole board on December 23.
In his first State of the Nation Address, Aquino said one of his administration’s thrusts is to decrease the number of Filipino employees working abroad.
Instead, Aquino said OFWs should return and start their own businesses in the country. (Charlene Cayabyab)
Source: http://www.sunstar.com.ph/pampanga/local-news/labor-agency-allots-p1-billion-ofws
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