PRESIDENT Benigno Aquino 3rd in a statement urged overseas Filipino workers (OFWs) to avail themselves of the government’s newly launched P2-billion low-interest reintegration loan program.
The OFWs and their families could borrow P300,000 to P2 million at 7.5 percent a year payable within seven years, Aquino added.
This is for the Filipinos to start up and support the development and operation of small enterprises when they return from their overseas jobs, he said.
“This reintegration fund is intended to give you [OFWs] the opportunity to start your chosen businesses and not need foreign deployment anymore to help your families,” the President said.
Under the loan guidelines, qualified borrowers are OFWs who are either once or active members of the Overseas Workers Welfare Administration (OWWA).
The reintegration loan program will not use loan conduits whose administrative costs swell interest rates to as much as 22 percent, Mr. Aquino also said.
“The program offers different enterprises flexible and easy loan term payments for its OFW availees,” OWWA said in a statement.
OFWs who were interested to borrow would be assisted by OWWA and its agency, the National Reintegration Center for OFWs, in putting together a business plan required by the Development Bank of the Philippines or the Land Bank of the Philippines to support applications and release of the loans.
On Tuesday, the President launched the P2-billion reintegration loan program on the occasion of the First National Congress of OFWs and their Families during Migrant Workers Day.
The P2-billion fund consists of P1 billion from the trust funds of the OWWA and another P500 million each by DBP and the LBP.
The President said that OFWs would be assisted by other government agencies in growing their enterprises.
Advices in business development would be provided by the Department of Trade and Industry, through its entrepreneurship development and technical assistant program.
Educating OFWs in choosing investment options in agribusiness and aquaculture will also be provided by the Department of Agriculture, while Bangko Sentral ng Pilipinas will conduct a financial literacy campaign. –Mayvelin U. Caraballo, Reporter, Manila Times
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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