Cavite 2nd District Rep. Strike Revilla has filed a bill seeking to establish a bank that will address the needs of overseas Filipino workers.
House Bill 3829 also enjoins the government to provide necessary financial assistance to sustain the viability of the proposed bank.
“It is about time that the overseas workers be provided with a bank that they can call their own; effectively run and managed by the people within their ranks; and which is expected to be operated for their greater good and benefit,” Revilla said.
He said the establishment of the bank would be a fitting recognition of the OFWs’ contribution to nation building.
Under the proposal, the bank’s principal office will be in the National Capital Region. It may open and maintain other branches, agencies and other offices in other parts of the country or abroad.
Revilla said the bank shall be a corporate body that can grant loans and other financial assistance preferably to Filipino overseas workers, their spouses or compulsory heirs, for the development of agriculture and small and medium scale commercial and industrial enterprises.