Last financial awareness webinar by Philippine Embassy, OFBank today – The Peninsula

Last financial awareness webinar by Philippine Embassy, OFBank today – The Peninsula

The Overseas Filipino Bank (OFBank) and the Philippine Embassy in Qatar will host the final of four-sessions of financial webinar at 2pm through Zoom, with a live stream on Facebook.

The final webinar is themed “When you are ready to do business. The Landbank OFW (Overseas Filipino Worker) Reintegration Program.”

According to the Landbank, a government-owned bank in the Philippines, the OFW Reintegration Program is a tie-up between the bank and the Overseas Workers Welfare Administration (OWWA), where business opportunities are provided to OFWs. “With our credit assistance, you can now put up and run your own business as an alternative to your overseas employment,” it said.

Eligible borrowers are OFWs certified by OWWA on membership and capacity-building programme. Projects which are eligible are belonging but not limited to the fields of franchising, agri and non-agri production and marketing, construction, rental, service, trading, transportation, and a contract tie-up with top 1,000 corporations.

Minimum loanable amount of Php100,000 with the following loan ceilings: Php2m for single proprietorship, and Php5m for group of OFWs (partnership, corporation, or cooperative). The interest rate for both short and long term loan is 7.5 percent per annum fixed for the duration of the loan. And the loan repayment for short