RIYADH: The Overseas Workers Welfare Administration (OWWA) announced on Tuesday that it has opened a fast-track calamity loan facility for the families of active OWWA members affected by Typhoon Ondoy.
OWWA Administrator Carmelita Dimzon said in a statement that the interest-free calamity loan is in the amount of 10,000 pesos per qualified borrower. The loan is repayable in 24 monthly installments with a grace period of 120 days from release of the money.
“This is OWWA’s response to the urgent need of its members, when many households are suffering in the wake of widespread destruction brought by Ondoy,” Dimzon said. She added that many OFW family members were among those rendered homeless or suffered deaths in the flooding.
According to Dimzon, a “large number” of OFW families, especially those residing in towns and cities declared as calamity areas by the National Coordinating Council in Metro Manila, the province of Rizal and Central Luzon, are still in evacuation centers.
OWWA welfare offices and staff in the affected regions have been instructed to process quickly the loans for early approval and release.
The requirements for the loans include active OWWA membership, certification from the local government unit that the applicant was damaged by the storm and a promissory note or affidavit of undertaking to repay the loan.
Interested applicants may visit the nearest OWWA regional office.
