BONTOC – The prayer of applicants from Mountain Province seeking job opportunities abroad to avail of soft loans they needed for the payment of their placement fee and other general expenses has been answered.
According to Executive Assistant Cynthia A. Taguiba, the Provincial Government is very willing to lend money with a very minimal interest of 5% per annum payable within 12 months to those who are applying abroad but do not have the money to pay their placement fees.
This is through the Provincial Overseas Employment Program Fund initiated by Governor Leonard G. Mayaen when he assumed office in 2010 believing that the program would ease the financial burden of the Overseas Filipino Workers (OFWs) from the province when they work abroad because of the very minimal loan interest instead of availing loan to agencies with a very high interest.
Taguiba said that the program caters to those residing in Mountain Province who are seeking employment abroad or already have valid work contracts.
She explained that an applicant must have a valid work contract for working abroad, visa for country destination and must be willing to complete and sign application form, Promissory Note, Memorandum of Agreement and other documents related to the loan. Further, an applicant must have at least two qualified co-makers who are permanent employees of the Provincial Government of Mountain Province.
She further instructed applicants to get a copy of the application form and submit the same together with the other requirements at the Office of the Provincial Governor- Executive Assistants Section.
Taguiba added that the amount loaned by a beneficiary of the program is dependent on the placement fee set by the placement agency and the country destination. Thus, the amount can range from P60, 000 to P100, 000.
Furthermore, there is no quota as to the number of beneficiary to avail of the program as long as the applicant has completed and submitted the requirements required.
Meanwhile, 168 OFW applicants have benefitted from the program since its implementation in 2011. Out of the total number, 80 worked in Hongkong, 22 in Taiwan, four in Kuwait, seven in Dubai, three in Korea, nine in Cyprus, two in Russia, four in Israel, four in Canada, two in Poland, three in Libya, one each in Hawai, Singapore, Europe and Japan, two in Florida, USA, five in Malaysia, three in New Zealand and 14 in Saudia Arabia.