APRIL 29, 2014

NR # 3451B

Credit assistance program for returning OFWs sought

Lawmakers have filed a bill providing credit assistance to returning Overseas Filipino Workers (OFWs) affected by current global financial crisis. Reps. Rufus Rodrigue (!nd "istrict# $agayan de Oro $ity) and %a&imo Rodrigue 'r. ((arty)list# *bante %indanao)# authors of +ouse ,ill -./!# said it is the declared policy of the 0tate to ensure the welfare of returning overseas workers affected by the current global financial crisis by providing them access to credit facilities. Rodrigue said a recession in the 1nited 0tates# 2urope and 'apan would cause many OFWs to lose their 3obs. ,esides 0ingapore# France# 4reland and 5ew 6ealand are now officially in recession. 78he (hilippines is vulnerable to the present crisis because of its overseas workers. 8here are around . million Filipinos overseas or nearly one)tenth of the (hilippine population. 8he government should be ready for the influ& of 3obless OFWs from the crisis)ridden countries#9 Rodrigue said. Of the :;#<;; domestic helpers working abroad# :.= or nearly :/#/// are female. Rodrigue said domestic helpers are deployed in +ong >ong (;:#?-!)# >uwait (;:#/:@)# 0audi *rabia (;;#.:.)# 1nited *rab 2mirates (;;#.<<)# Lebanon (@#@;/)# Aatar (B#?!<)# 'ordan (<#-?:)# 0ingapore (-#;B!)# Oman (!#/B.)# $yprus (;#;@.) and ,ahrain (;#-<-). 4n !//@# Rodrigue said the (hilippines deployed a total of <:#<-; workers to 0ingapore and around !#!!/#/// OFW0 in !/;! many of whom went to the %iddle 2ast# including Lebanon and 'ordan# and in *sia. Rodrigue underscored that another problem of OFW deportation is the large number of migrant workers without proper documents in +ong >ong# 'apan# %alaysia# 0ingapore and 0outh >orea. 74n times of an economic slump# the first thing that governments do is crack down on undocumented workers because they are seen as a burden on the economy worldwide# mostly in the Culf countries and the %iddle 2ast. %any of them are low and middle skilled workers#9 Rodrigue said. 1nder the measure to be known as the 7Returning Overseas Workers $redit *ssistance *ct# an OFW may avail of a loan of not more than (?/#/// from the Overseas Worker and Welfare *dministration (OWW*). 8he loan shall be paid in ;! eDual monthly installments at a preferred interest rate not to e&ceed B= per month. 8he amount of (;#///#/// from the sale of governmentEs shares in (etron $orporation is appropriated to implement the provisions of the proposed act. (-/) lvc