P1.2M available for Mt Prov OFW loan applicants this year

By Alpine L. Killa

BONTOC, Mountain Province – Gov. Leonard G. Mayaen said implementation of the Provincial Overseas Employment Program Fund  is on with P1.2 million available to be loaned out to Overseas Filipino Workers  (OFWs) this year.

Initiated by Mayaen when he assumed office in 2011 and supported by the Sangguniang Panlalawigan, the POEPF would assist individuals who want to work abroad but lack finances to pay placement fees.

Provincial officials said this would ease financial burden of OFWs because of minimal loan interest instead of availing of loans from banks or individuals offering very high interest.

Since its inception, the program helped 224 OFWs who are now working as nurses, domestic helpers, factory workers, drivers and skilled workers.

Of the number, 186 are females and 39 are males. 96 of them are working in Hongkong, 12 in Cyprus, 23 in Taiwan, six in Kuwait, seven in Dubai, three in Korea, 21 in Saudi Arabia, six in Israel, three in Russia, eight in Canada, two in Poland, four in Libya, one in Hawai, 10 in Singapore, three in Florida, USA, two in Japan, six in Malaysia, three in New Zealand, one each in Europe and Germany.

Laire Ligligen of the office of the governor said the provincial government is willing to lend money with interest of five percent per annum payable in 12 monthly installments starting a month after the overseas worker’ arrival at the country of work. A three percent service fee is also deducted immediately from the loaned amount.

She said an applicant must have a valid work contract for working abroad, visa for the country destination and must be willing to complete and sign the application form, promissory note, memorandum of agreement and other documents related to the loan.

To ensure effective implementation of the program, applicants must have at least two qualified co-makers who are permanent employees of the provincial government.

They will enter into a MO) with the provincial government represented by the governor.

Under the MOA, the co-makers as guarantors of the borrower for the payment of the loan agree that the obligation shall be deducted from their monthly salary for a period of 12 months or until the loan shall have been fully paid if the borrower fails to pay the obligation.

Applicants were instructed to get a copy of the application form and submit the same together with the other requirements at the Office of the Governor.

There is no quota as to the number of beneficiaries who may avail of the program as long as the applicant has completed and submitted the requirements required, and as long as funds are available.

The amount to be loaned by an applicant is dependent on the placement fee set by the placement agency and the destination country. Thus the amount can range from P60, 000.00 to P100, 000.