DBP president & chief executive officer Francisco F. Del Rosario, Jr. (left) led a group of senior DBP officials in the launching of the Pangkabuhayan Para sa Pinoy (PPP-OFW) and the DBP-OFW Reintegration Program (DBP-OFWRP) at the Philippine Embassy in Abu Dhabi and the Philippine Overseas Labor Office in Dubai.
The PPP-OFW is a raffle program that grants livelihood packages and start-up capital to lucky OFWs who have coursed their remittances through DBP. All money transfer transactions coursed through DBP partner-institutions overseas automatically generate an electronic raffle ticket that gives OFW-remitters the chance to win livelihood packages valued at over Php5-million.
The DBP-OFW Reintegration Program is a credit facility for existing or start-up business ventures of OFWs and their families. The OFWRP is part of DBP¹s program for small and medium enterprises and provides OFWs with special terms like lower interest rates, less stringent security provisions, and a generous grace period on the payment of principal amount depending on project cash flows. The program is jointly implemented with the Overseas Workers Welfare Administration and the Land Bank of the Philippines with a total of Php2-billion in program loanable amount.