The Department of Labor and Employment (DOLE) is offering one-time cash assistance to returning Overseas Filipino Workers (OFW) so they can start their own business in the Philippines.
DOLE Secretary Silvestre Bello III said that they are preparing for the P20,000 livelihood assistance for OFWs who lost their jobs following the COVID-19 pandemic.
“Our immediate program is livelihood assistance and we will focus on returning and stranded OFWs. We will be giving them livelihood projects… OFWs are our main target,” says Bello, noting that this is the government’s recovery plans.
For OFWs to get their needed fund, they need to present their business proposals to DOLE where it will be subjected for approval. Upon approval, they will be given a start-up capital of P20,000 for their livelihood project. For those who need higher capital, they can get a loan from DOLE. This loan is interest-free.
An estimated 25,000 OFWs have already returned to the Philippines following the COVID-19 pandemic that struck countries all over the world. An additional 40,000 OFWs are expected to return to the Philippines until June.
According to the Department of Foreign Affairs, 2,360 OFWs abroad have contracted COVID-19, an additional 30 new cases were reported coming from the Americas, Europe, and the Asia Pacific.