Mountain Province | Official Website

P1.2 Million available for MP OFW loan applicants this year

Bontoc, Mountain Province – Governor Leonard G. Mayaen assures continuous implementation of the Provincial Overseas Employment Program Fund as P1.2 million is made available to be loaned out to Overseas Filipino Working (OFWs) this year 2016.

Initiated by Gov. Mayaen when he assumed office in 2011 and supported by the Sangguniang Panlalawigan of Mountain Province, the Provincial Overseas Employment Program Fund aims to assist individuals who want to work abroad but lack the financial means to pay their placement fees.

The provincial officials believe that this would ease the financial burden of the OFWs from the province when they work abroad because of the very minimal loan interest instead of availing loan to agencies offering very high interest.

Since its inception, the program has 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 that the provincial government is very willing to lend money with a very minimal interest of five percent per annum payable in 12 monthly instalments 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 explained that 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 the effective implementation of the program, applicants must have at least two qualified co-makers who are permanent employees of the Provincial Government of Mountain Province. They will enter into a Memorandum of Agreement (MOA) with the provincial government represented by the governor.

Under the MOA, the co-makers as the 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 are 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, 000.00 // Alpine L. Killa

 

 

 

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