House News: CREDIT ASSISTANCE FOR RETURNING OFWs SOUGHT Lawmakers have filed a bill providing credit assistance to returning Overseas Filipino Workers (OFWs) affected by current global financial crisis. Reps. Rufus Rodriguez (2nd District, Cagayan de Oro City), one of the authors of House Bill 3802, said a recession in the United States, Europe and Japan would cause many OFWs to lose their jobs. Besides Singapore, France, Ireland and New Zealand are now officially in recession. The Philippines is vulnerable to the present crisis because of its overseas workers. There are around 8 million Filipinos overseas or nearly one-tenth of the Philippine population. The government should be ready for the influx of jobless OFWs from the crisis-ridden countries, Rodriguez said. (PRIB/lvc)
Posted on: Sun, 04 May 2014 05:44:39 +0000
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