Moving to institutionalize robust economic support for Overseas Filipino Workers (OFWs) and their families, the Department of Trade and Industry-Small Business Corporation (DTI-SBCorp) and the Overseas Workers Welfare Administration (OWWA) signed a landmark Memorandum of Agreement (MOA) to launch the OFW Negosyo Fund Program.
The collaborative initiative is designed to empower modern-day Filipino heroes by providing them with the necessary financial resources, training, and institutional backing to transition from overseas employment to successful domestic entrepreneurship.
The ceremonial signing was led by key government leaders championing economic and labor development:
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Secretary Cris A. Roque, Department of Trade and Industry (DTI)
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Secretary Hans Leo Cacdac, Department of Migrant Workers (DMW)
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Administrator Patricia Yvonne “PY” Caunan, Overseas Workers Welfare Administration (OWWA)
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President Bobby Bastillo, Small Business Corporation (SBCorp)
The strategic partnership aligns the loan capitalization capabilities of SBCorp with the extensive welfare and reintegration networks of OWWA and the DMW. By bridging these resources, the program ensures that returning OFWs do not just come home to look for local jobs, but arrive equipped to create them.
The program tackles the primary barriers faced by migrant workers when starting a business: lack of accessible capital and a need for structured market guidance.
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Expanded Financial Access: Eligible OFWs and their immediate families can access low-interest, flexible loan facilities without the stringent collateral requirements typical of commercial banks.
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Enterprise Development & Training: Beyond capital, beneficiaries will receive end-to-end business development support, including financial literacy, marketing strategies, and operational mentoring courtesy of DTI’s enterprise networks.
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Sustainable Reintegration: The initiative creates a concrete pathway toward long-term financial stability, safeguarding OFW remittances by converting them into productive, wealth-generating local investments.
“Our goal is to transform every interested OFW into an ‘OFW-preneur.’ Through the OFW Negosyo Fund, we are not just providing capital; we are offering a sustainable economic alternative that allows our kababayans to build wealth right here at home, alongside their families,” said DTI Secretary Cris A. Roque.
DMW Secretary Hans Leo Cacdac said: “True reintegration means giving our workers choices. This partnership with DTI and SBCorp ensures that when an OFW chooses to stay in the Philippines, they have a solid financial foundation and an ecosystem ready to support their business success.”
The OFW Negosyo Fund Program will be rolled out across OWWA regional offices and DTI Negosyo Centers nationwide. Active and former OFWs registered with OWWA, as well as their designated family representatives, will be eligible to apply. Comprehensive guidelines, loan caps, and application portals will be announced on the official websites and social media channels of SBCorp, OWWA, and DTI in the coming weeks.
