P.9-M livelihood aid released in Zamboanga Peninsula
26th November 2006
By Bong Garcia (Sunstar Zamboanga)
CLOSE to P1 million in livelihood assistance were released Friday to dependents of overseas Filipinos workers in the Zamboanga Peninsula, a government agency said. Overseas Workers Welfare Association (Owwa) officer Sheryl Joaquin, also the designated information officer, said a total of 18 OFW Family Circles (OFCs) were organized into a federation and benefited from the livelihood loan assistance.
Joaquin said the OFC-beneficiaries in Friday’s release of livelihood assistance were from this city and nearby Isabela City, the capital of Basilan province. She said the 18 OFCs received a total loan of P900,000 at P50,000 each group, and payable in two years after a two-month grace period from date of release.
The release of livelihood assistance was spearheaded by Owwa acting Regional Director Liddy Rasul-Tañedo, also a labor attaché’. The monthly loan amortization for each OFCs is P2,083.33, according to Joaquin. The livelihood assistance loan is granted to OFWs and dependents under the “Owwa Groceriya Project” in line with the Philippine reintegration Program of President Gloria Macapagal-Arroyo.
The loan is interest-free and no collateral is required except that the OFCs have to undergo the needed training to qualify for the livelihood assistance. Joaquin said OFWs or their dependents must organize into a group of not less than five members, register with the Securities and Exchange Commission (SEC), and come up with a business plan.
“We will evaluate it to determine if their propose business is buyable for eventual approval,” she said. She said they prefer that each OFCs will engage in the business of fast-moving goods like grocery items and other basic commodities, fish, vegetables and fruits vending.
Aside from OFWs and dependents, the others who are entitled to avail themselves of livelihood assistance loan are those who used to work abroad provided they can present proof of employment, according to Joaquin.
Previously, 21 OFCs mostly from Zamboanga del Sur and Zamboanga del Norte received the same livelihood assistance. Nine OFCS are from this city. Livelihood assistance to OFWs and their dependents started in 2004.