President Gloria Macapagal Arroyo awarded P50,000 individual checks to 25 displaced Overseas Filipino Workers coming from the different parts of Mindanao. The President was assisted by Labor Secretary Marianito Roque in a ceremony held recently at the Apo View Hotel in Davao City.
The 25 displaced OFWs came from Taiwan, United Arab Emirates, Dubai, Hong Kong, Laos, Thailand, Qatar who opted to avail of the livelihood assistance to start or expand existing businesses of their families.
Most of the enrolled businesses are on piggery expansion, food distribution, bakery enhancement, frozen fish trading, sari-sari store, boarding house completion, and banana production.
The initial livelihood assistance given by the President to displaced OFWs on Thursday in Davao City amounted to P1.5 million which was on top of the 35 scholarship certificates to OFWs from Mindanao who were retrenched due to the current global economic crisis.
The event is in recognition of the OFWs contribution to the economy where the Arroyo administraton mapped out this "pay back package" program.
The distribution of checks was witnessed by 600 OFWs and their families who prior to their meeting with the President were extended a techno demo on beadworks and novelty item making, ice cream making, trendy balloon making and Christmas decor making and fresh flower arrangement.
Displaced overseas Filipino workers (OFWs) must first complete a training on livelihood of their choice before they become eligible to a loan under the Filipino Expatriates Livelihood Support Fund (FELSF).
Overseas Workers Welfare Administration (OWWA) Region XI director Ronleonil M. Bartolome said the government has earmarked P1 billion for OFWs assistance under the FELSF. The fund he said will come from OWWA with P100 million, National Livelihood Support Fund, P100 million, Land Bank of the Philippines, P400 million and Development Bank of the Philippines, P400 million.
He said they would expect more OFWs to register with them and in Davao Region alone they already listed about 72 as of February 19.
Bartolome stressed that these OFWs must first undergo training on their desired livelihood projects which OWWA will facilitate in coordination with Department of Labor and Employment and the Technical Education Skils and Development Authority. They must also be able to come up with a business plan, he said.
He also said that they will be taught how to manage and operate the business and OWWA will strictly monitor the implementation of the livelihood project.
"This is a loan extended to OFWs with five percent interest payable in two years with two months grace period," he said.
Bartolome meanwhile said that the livelihood assistance is their regular fund assistance to OFWs which started in 1998 even as he said they would be employing a stricter monitoring system to improve on repayment rates which before in Davao Region was only at 40 percent.
Bartolome on the other hand said that they still receive request from OFWs who prefer overseas employment while the younger ones opted for the scholarship program to augment further their skills which they need for seeking jobs abroad.
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