OWWA, LBP Approved P865.12M Reintegration Fund for 1,257 OFW-Entrepreneurs as of end of 2014


May 15, 2015
OWWA, LBP Approved P865.12M Reintegration Fund for 1,257 OFW-Entrepreneurs as of end of 2014
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 of 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 availees 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.

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