The Land Bank of the Philippines has earmarked at least P8.3 million in loan packages for returning overseas Filipino workers (OFWs) who want to begin their own business in the Philippines.
The loans are intended to provide economic opportunities for returning OFWs affected by political crises in the Middle East and other countries stricken by natural calamities.
The loan is for returning OFWs who want to start their own businesses in areas such as Bulacan, Pampanga, Zambales, Batangas, Iloilo, Bacolod, Cebu, Bukidnon, Davao, and Pasay.
LandBank said the amount forms part of the government’s P2-billion reintegration loan program.
The LandBank is implementing the reintegration program together with the Overseas Workers Welfare Administration (OWWA) and the Development Bank of the Philippines.
“The program aims to provide economic opportunities for returning OFWs affected by political crises in the Middle East and other countries seriously stricken by natural calamities,” the LandBank said.
LandBank president and chief executive officer Gilda Pico said the government will provide modules that contain information on investment requirements and projected monthly income from the different businesses.
Under the program, qualified OFWs may borrow from P300,000 to as much as P2 million at 7.5 percent interest per year, payable within one year or a maximum term of seven years.
The program also stipulates that LandBank will extend loan up to 80 percent of the total project cost while the remaining 20 percent will be provided by the borrower as equity.
“Qualified borrowers are OWWA-certified OFWs who can no longer work overseas and who now want to engage in business and need financing assistance for working capital and fixed asset acquisition their preferred business,” LandBank said.
“Eligible projects are those with confirmed market, market contract, or service contracts that will generate an income of at least P10,000 every month,” the bank also said. – JE/VVP, GMA News
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
