Returning OFWs could avail loan to start agri-related businesses
The Department of Agriculture (DA) will lend money to returning Overseas Filipino Workers (OFWs) in condition that they will use this to put up a business in agriculture sector.
In a statement, DA said it is offering no-interest loans of up to P15 million for returning OFWs, most of whom were repatriated due to COVID-19 pandemic.
Celestino Mananguit, a former OFW, is one of the people that benefited from this program.
According to DA, Mananguit successfully developed an integrated eight-hectare livestock farm and expanded this into a techno-demonstration and agri-tourism farm that provides food, livelihood and employment in his community.
A retired seaman, Melbert Gabriel Fadrigo, also borrowed money from DA to develop their family farm in Hamtic, Antique.
“Armed with passion and hard work, and aided by technical and financial assistance from the DA, Mananguit and Fadrigo are just some of the former OFWs that the DA is luring to engage in agri ventures, offering them zero-interest loans, free training, and technical and marketing assistance,” the DA said in a statement.