Senator Erwin Tulfo has filed a bill granting interest-free loans of up to ₱100,000 to overseas Filipino workers (OFWs) to cover pre-departure expenses.
Senate Bill No. 1696, or the OFW Pre-Employment Loan Assistance Act, seeks to assist qualified OFWs with valid employment contracts before they leave for work abroad.
Priority will be given to first-time OFWs, who must attend a free financial literacy seminar before deployment.
The proposed loan may be used for placement fees, medical examinations, training costs, passport and visa processing, airfare, and other related expenses.
Tulfo said many OFWs struggle to raise money for these requirements and often resort to loan sharks, leaving them buried in debt even before they start working overseas.
Editor’s Note: This is an updated article. Originally posted with the headline: “OFWs may receive interest-free pre-departure loans under Tulfo bill”
