Loans For OFWs With Typhoon-Damaged Vehicles

damaged-vehicleAre you a Filipino worker abroad and have a utility pickup damaged by the wrath of recent typhoons in the Philippines? Here’s some thoughts that could ease your pain. The government, through Labor Department is offering loans to overseas Filipino workers (OFWs) whose vehicles used for livelihood of families back home were damaged by typhoons “Ondoy” and “Pepeng”.

Maybe you are one of those OFWs. At one time, you decided to buy utility vehicle used to transport farm eggs to market, or deliver softdrinks in the neighborhood. It was such a good investment then. But they were rendered useless when the typhoons came and poured in floods of record levels. Good thing the government’s initiatives to help families of overseas migrant workers. OFW families may avail of a P50,000 interest-free loan with a term of one year for the rehabilitation of vehicle, according to Labor Secretary Marianito Roque.

Also, the bank made available a P5,000 microfinance loan, interest free, with a grace period of three months and payable for one year, for the livelihood of OFWs’ immediate family members.

There will be lots of speculations whether the rightful recipients will ever receive the offer. And there’s no surprise on that. In a country mired with corruption and nepotism, it is normal to raise doubts on the effectiveness of such move. But at least, the government made good of its promise to help OFWs in anyway possible, and extending that help to immediate family members in the Philippines.

Photo credit: Verbl Kint