Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila

TWENTIETH CONGRESS:
First Regular Session

HOUSE BILL NO. 274

Introduced by Representatives Bryan B. Revilla, Lani Mercado-Revilla, and Ramon
Jolo B. Revilla Ill

AN ACT
ESTABLISHING A CREDIT ASSISTANCE PROGRAM FOR OVERSEAS
FILIPINO WORKERS

EXPLANATORY NOTE

According to the 2022 Overseas Filipino Workers Survey released by the
Philippine Statistics Authority, there are an estimated 2.16 million overseas Filipino
Workers (OFWs). Relatedly, the Bangko Sentral ng Pilipinas reported that the
personal remittances from OFWs amounted to USD 37.2 billion in 2023 or about 3
percent up from the USD36.1 billion in 2022.

Given the undeniable contribution to the economy of our OFWs, it is the
duty of the State to provide assistance to them especially when they are still starting

with their chosen career track abroad.

This measure seeks to create a credit assistance program for our OFWs.
Under this bill, a prospective beneficiary, with a valid employment contract 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 their family during the first few months of
their absence and cover expenses incurred during pre-employment.

In view of the foregoing, the urgent approval of this bill is earnestly sought.


REP, REVILLA REP. L, MERCADO-REVILLA

AGIMAT Party-list Representative, 2™ District of Cavite

REP, rawokyolo B. REVILLA Ill
Representativel 1* District of Cavite


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila

TWENTIETH CONGRESS
First Regular Session

HOUSE BILL NO._274

Introduced by Representatives Bryan B. Revilla, Lani Mercado-Revilla, and Ramon
Jolo B. Revilla Ill

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:
Section 1. Short Title. - This Act shall be known as the “Overseas Filipino

Workers Credit Assistance Act of 2025”.

Sec. 2. Declaration of Policy. — Consistent with the State policy that the State
affirms labor as a primary economic force and that it shall protect the rights of
workers and promote their welfare, it is hereby declared that the government and its
instrumentalities must promote and carry out programs geared towards advancing
the interest of the Overseas Filipino Workers (OFWs) by providing them access to
credit facilities even before their departure.

Sec. 3. Provision of Loans. — An overseas contract worker with a valid
employment contract as certified by the Philippine Overseas Employment
‘Administration (POEA) may avail of a loan of not more than Fifty Thousand Pesos
(P50,000.00) from the Overseas Worker and Welfare Administration (OWWA) to
defray the living expenses of his family during the first three months of absence as
well as recruitment expenses including placement fees, documentation costs and
airfare; Provided, that any one of their family members of legal age and not
otherwise disqualified by law shall participate in the loan as co-borrower, and
execute necessary documentation to that effect; Provided, further that the loan shall
be granted and released by the OWWA upon proper submission of the following


documents: employment contract, airfare ticket; and bank account, which are duly
certified in writing by the recruitment agency and authenticated by POEA.

Sec. 4. Provision of a Bank Account. — Overseas workers availing of the credit
assistance under this Act shall open a bank account in which payments for the loan
shall be made.

Sec. 5. Payment of Loan. —- The loan shall be paid in twelve (12) equal
monthly installments or more but not exceeding twenty four (24) months at a
preferred interest rate not to exceed six percent (6%) per annum. For the purpose,
the applicant shall execute the necessary authority for the bank to automatically
withhold the monthly loan amortization from their remittances.

Sec. 6. Partnership with the Land Bank of the Philippines. - OWWA may have
an option to tap the expertise of the Land Bank of the Philippines in handling loans.

Sec. 6. Implementing Rules and Regulations. — The OWWA, in consultation
with the relevant stakeholders, shall issue rules and regulations, including but not
limited to nonpayment of loans, corresponding penalties that may be imposed,
collection and administration of loan, for the effective implementation of this Act.

Sec. 7. Funding. - The amount necessary to implement this act shall be
earmarked from the OWWA Trust Fund.

Sec. Transparency Reporting and Monitoring. - OWWA shall publish a report
indicating the list of beneficiaries, including but not limited to their regional
distribution and repayment status, in their official website.

Sec. 8. Repealing Clause. - All laws, presidential decrees, executive orders,
letter of instructions, proclamations or administrative regulations that are
inconsistent with this Act are hereby repealed, amended or modified accordingly.

Sec. 9. Effectivity. - This Act shall take effect fifteen (15) days after its
complete publication in the Official Gazette or in a newspaper of general circulation.

Approved,