V'b
NINETEENTH CONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
First Regular Session 
)
of tijc
•22 JULll P4 29
SENATE
o
S. No. ^9G5
RLCElVaav:..
Introduced by SENATOR RAMON BONG REVILLA, 3R.
AN ACT
ESTABLISHING A CREDIT ASSISTANCE PROGRAM FOR OVERSEAS 
FILIPINO WORKERS
EXPLANATORY NOTE
An Overseas Filipino Worker (OFW) is a person of Filipino origin who lives 
and works outside the Philippines. As of 2018, there are approximately 2.3 million 
Overseas Filipino Workers according to the latest survey done by the Philippine 
Statistic Authority1. According to the same data from the survey made by the 
Philippine Statistic Authority, the total remittance sent by OFWs during April to 
September 2018 was estimated at 235.9 billion pesos. These remittances included 
cash sent home (169.4 billion pesos), cash brought home (55.2 billion pesos) and 
remittances in kind (11.2 billion pesos).
Considering the sacrifices our OFWs have to endure as well as the 
contributions they bring to the economy, it is the duty of the State to provide 
assistance and care to them.
This bill, therefore, seeks to create a credit assistance program for our 
modern day heroes. Under this bill, a prospective OFW who has a valid contract as 
certified by the Philippine Overseas Employment Administration (POEA) may avail of 
a fifty thousand peso (P50,000) loan from the Overseas Worker Welfare 
Administration (OWWA) to defray the living expenses of his family during the first
1 Results from the 2018 Survey on Overseas Filipinos, Retrieved from 
"https://psa.gov.ph/statistics/survey/labor-and-employment/survey-overseas-filipinos"
1


few months of his absence as well as other expenses incurred during 
pre-employment.
In view of the foregoing, the urgent approval of this bill is earnestly sought.
RAMOI^ONG REVILLA, JR.


NINETEENTH CONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
First Regular Session 
)
g>£uate
ot tilt -tra'-?
•22 JUL 11 P4 :3°
SENATE
265
S. No.
RtCElVED BV;...
Introduced by SENATOR RAMON BONG REVILLA, JR.
AN ACT
ESTABLISHING A CREDIT ASSISTANCE PROGRAM FOR OVERSEAS 
FILIPINO WORKERS
Be it enacted by the Senate and House of Representatives of the Philippines in 
Congress assembled:
1 
Section 1. Short Title. - This Act shall be known as the "Overseas Filipino
2 
Workers Credit Assistance Act of 2022".
3 
Sec. 2. Declaration of Policy. - Consistent with the State policy that the State
4 
affirms labor as a primary economic force and that it shall protect the rights of workers
5 
and promote their welfare, It is hereby declared that the government and its
6 
Instrumentalities must promote and carry out programs geared towards advancing the
7 
interest of the Overseas Filipino Workers (OFWs) by providing them access to credit
8 
facilities even before their departure.
9 
Sec. 3. Loans. - An overseas contract worker with a valid employment contract
10 
as certified by the Philippine Overseas Employment Administration (POEA) may avail
11 
of a loan of not more than Fifty Thousand Pesos (P50,000.00) from the Overseas
12 
Worker and Welfare Administration (OWWA) to defray the living expenses of his family
13 
during the first three months of absence as well as recruitment expenses including
14 
placement fees, documentation costs and plane. Tickets. Provided that any one of the
15 
members of his family not otherwise disqualified by law shall participate in the loan as
16 
co-borrower, and execute necessary documentation to that effect. Provided, further
17 
that the loan shall be granted. And released by the OWWA upon proper submission of


1 
the following documents, duly certified to in writing by the recruitment agency with
2 
corresponding authentication and properly certified/verified by the POEA.
3 
3.1 Employment Contract
4 
3.2 Plane ticket; and
5 
3.3 Bank account
6 
Sec. 4. Establishment of a Bank Account. - Overseas workers availing of the
7 
credit assistance under this Act shall open a bank account in which payments for the
8 
loan shall be made.
9 
Sec. 5. Payment of Loan. - The loan shall be paid in twelve (12) equal monthly
10 
installments or more but no exceeding twenty four (24) months at a preferred interest
11 
rate not to exceed six percent (6%) per annum through the bank account to be
12 
established under the immediately preceding Section. For the purpose, the applicant
13 
shall execute the necessary authority for the bank. To withhold the monthly loan
14 
amortization from his remittances.
15 
Sec. 6. Implementing Rules. - The OWWA, in consultation with organized labor
16 
groups and the relevant sectors, shall issue rules. And regulations for the effective
17 
implementation of this Act. The IRR shall include provisions that will address
18 
nonpayment of loans provided by this Act and the corresponding penalties that may
19 
be imposed, collection and administration of loans, and other issues of significance
20 
relevant to this Act.
21 
Sec. 7. Appropriation. - The amount needed to implement the provisions of this
22 
Act shall be appropriated out of the Overseas Workers Welfare Fund.
23 
Sec. 8. Repealing Clause. - Any other provisions of law or rules and regulations
24 
inconsistent to the provisions of this Act are hereby repealed, amended or modified
25 
accordingly.
26 
Sec. 9. Effectivity -This Act shall take effect fifteen (15 days after its complete
27 
publication in the Official Gazette or in at least two (2) newspapers general circulation,
28 
whichever comes earlier.
Approved,