VP NOLI TO HELP OFW FAMILIES BECOME ENTREPRENEURS
February 14, 2009

VICE President and Presidential Adviser on Overseas Filipino Workers (OFWs) Noli ‘Kabayan’ De Castro is encouraging the private and civic sectors to help families of overseas workers become entrepreneurs themselves.

Speaking during the pre-Valentine Dinner of the Alay sa OFW fund raising project at the Endelrun College in Makati last night (February 12), De Castro said that by doing so, OFWs can be assisted in channeling their overseas-based family member to productive endeavors and not just to basic consumption.

“More importantly, by helping them set up new and viable businesses, these families actually help their overseas-based member come home much sooner,” De Castro said.

Organized by the United States-based Filipinos, the dinner aimed at raising funds for OFWs affected by the global financial crisis. De Castro assured the participants that the government is taking steps in helping the troubled OFWs.

Last Monday, upon the instruction of President Gloria Arroyo, De Castro said a multi-sectoral forum was held in Malacanang to come up with effective and timely interventions for workers who are displaced by the recession.

The program, he said, will benefit not just the local workers but also those OFWs who might be forced to return home.

He said the government has met with the business sector to find ways of preserving existing jobs and creaOting new ones.

Within the government housing sector which he heads, De Castro said he has directed the Pag-Ibig Fund to set aside P82 billion for housing and multi-purpose loans.

“This is expected to contribute towards sustaining the growth momentum of our economy,” he said.

In addition, De Castro said Pag-Ibig along with SSS shall implement loan restructuring programs which include the condonation of penalties.

home   |   Press Release main page   |