OWWA, LBP approve P865.12M reintegration fund for 1,257 OFW-entrepreneurs

Since its launch in June 2011 up to December 2014, the business projects of 1,257 members of the Overseas Workers Welfare Administration (OWWA) were approved under the 2-Billion OFW Reintegration Program, a joint undertaking of the Land Bank of the Philippines and OWWA. The total amount of loan extended to the proponents reached P865,118,529.80.

The approved business projects are a mix of agricultural and non-agricultural enterprises. Non-agricultural business projects are slightly higher than agricultural projects comprising 59% of all the project grantees during the period. Among these are groceries, apartment construction and rental, general merchandise stores, UV Express, hardware, water-refilling stations, internet café, restaurant, auto and motor parts, ready-to-wear, pharmacy and gas station.

Agricultural projects are mostly linked to the food chain. These are grains, fruits and vegetables farming, grains trading, livestock- and poultry-raising, fishery, post-harvest activities like milling, and bakery.

Most of the approved business projects of OFW applicants came from Region 3 followed by Regions 4-A, 6, 12, 5, NCR and 2, 11, 7, 1, CAR, 4-B, 10, 9, ARMM, 8 and CARAGA.

These enterprises generated 5,634 jobs. (OWWA I)

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