Bits and Snippets of the Philippines

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Posts Tagged ‘DOLE

Overseas Filipino Workers Can Loan Up To 2 Million Pesos Payable in 7 Years

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Filipino Migrant workers in Hongkong

The Macau Daily Times recently reported that Overseas Filipino Workers (OFW) working in area are now eligible to borrow from 300,000 Pesos up to 2 million Pesos with a fixed interest rate of 7.5 percent per annum. This program is a joint effort of the Department of Labor and Employement (DOLE), the Overseas Workers Welfare Administration (OWWA), the Development Bank of the Philippines (DBP) and the Land Bank of the Philippines. This special loan program is open to all migrant and overseas Filipinos legally working abroad.

Eligibility rules require the applicant to have a net monthly income of no less than 10,000 Pesos and has made at least one contribution to OWWA. Approved applicants have seven years to pay the loan.

Source: Macau Daily Times

Photo by dying_of_the_light at Flickr.com

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DOLE and OWWA to Award Checks Worth P11.96 Million

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The Department of Labor and Employment (DOLE) and the Overseas Workers Welfare Administration (OWWA) are awarding checks worth 11.96 million Pesos to various beneficiaries. DOLE is financing 24 livelihood projects that will beneft more than 2,000 unemployed and rank-and-file employees to seek new or additional work to add to their incomes. The OWWA, on the other hand, is awarding 50 checks to returning Overseas Filipino Workers (OFW) affected by the global economic problems.

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Written by Raffy Pekson II

June 2, 2009 at 2:30 pm