CITY OF MALOLOS, Bulacan, July 29 (PIA) -- Repatriated overseas Filipino workers (OFWs) from Libya are starting over with small businesses in Bulacan as they are supported with an P11 million loan fund from the provincial government.
According to Jovito Saguinsin, head of the Provincial Cooperative and Economic Development Office, 150 repatriates in Bulacan have been assisted through a P5 million fund which was saved from the previous local administration.
The P6 million, Saguinsin said, was currently stored under a trust fund which will also be used for loans.
Each approved OFW has received up to a maximum of P25,000 - P50,000 livelihood assistance.
Saguinsin said the Bulacan government has already profited from the interests of the loans. The revenue will again be utilized for allotting more financial assistance to OFWs and cooperatives in the province.
“Intact pa ang P6 million na trust fund. Ang mga interest mula sa P5 million fund ang pinapaikot natin. Kumita na tayo diyan (The P6 million trust fund is still intact. We are circulating the interests earned from the P5 million fund. We have already profited from that),” said Saguinsin.
Another P3 million will be lent to Libyan repatriates this August.
Loans afforded to the OFWs have been used in putting up businesses on production and manufacturing in the province, added Saguinsin.
“The funds are being used for putting up small and medium enterprises ng mga OFWs from Libya. Sila ang naapektuhan talaga (They are the ones seriously affected).”
According to the Overseas Workers Welfare Administration, more than 2,000 Filipinos had been evacuated from Libya due to political tensions.
The government has set aside at least P130 million for the repatriation of more than 13,000 Filipino migrant workers displaced by the Libyan conflict. (WLB/JMG-PIA 3)