Milan, Italy – With the theme “Reintegration Program Awareness: Kung Uwian na, Handa ka na ba?” the Philippine Overseas Labor Office in Milan jumpstarted its webinar series for the month of April with a session on enterprise development last 04 April 2021 via Zoom entitled, “Enterprise Development and Loan Program and Business Plan Preparation.”
To formally open the session, Philippine Ambassador in Budapest, Hungary, H.E. Frank Cimafranca underscored the importance of preparing for reintegration, most especially in the time of pandemic as Filipinos abroad face more challenges and uncertainties brought about by COVID-19. He further noted that this particular session will be useful for overseas Filipino workers who wish to avail of the Philippine government’s existing loan and business development programs when they eventually go back home.
The discussion, led by Landbank Representative Leover Loyola, focused on the program features of the Overseas Filipino Workers – Enterprise Development and Loan Program (OFW-EDLP), particularly on the lending parameters and guidelines on the availment of loans. Noting the vulnerability of OFWs abroad due to unforeseen circumstances such as social unrest, calamities, and the current pandemic, the program is envisioned to provide sustainable enterprise and investment opportunities for OFWs who will come back to the Philippines.
The program was previously known as OFW – Reintegration Program (ORP) and it is being spearheaded by OWWA, in partnership with Landbank of the Philippines. Eligible projects under the program include franchising business, contract tie up with Top 1000 corporations, agri and non-agri production, manufacturing, construction, and trading, among others.
Mr. Loyola also talked about the key elements of creating a business proposal or plan which is essential in developing and managing a business. He noted that the sustainability of a business heavily depends on how prepared the investor is building a solid and comprehensive roadmap for their proposed business.
The webinar has been broadcasted live through the POLO Milan Facebook Page and YouTube and in coordination with the Philippine Consulate General in Milan, Italy, the Philippine Embassy in Vienna, Austria and the Philippine Embassy in Budapest, Hungary. To date, the webinar has been viewed 4,100 times and may be viewed anytime through POLO Milan’s social media accounts.