Church-backed program for OFWs gets P4M from UN body

A Catholic Church-backed savings program for overseas Filipino workers and their families has earned a P4-million innovation grant from a United Nations agency. The Catholic Bishops' Conference of the Philippines (CBCP) said the International Labor Organization (ILO) cited the "Pamilyang OFW Savers and Wellness Club" for its help to migrant workers. "Launched in July 2009, the OFW Savers and Wellness Club are found in six dioceses with over 900 members. The members are entitled to benefits such as participation in financial literacy workshops, high interest rates on their savings, personal accident insurance, cash burial assistance, life insurance and privileges from industrial partners," the CBCP said in its news site. ILO will serve as a conduit for the grant from the Bill and Melinda Gates Foundation, set up by software giant Microsoft chairman William Henry "Bill" Gates III and wife Melinda. With the grant, the CBCP said the program can reach out to OFWs in isolated parts of the country and aggressively emphasize the need to save. The CBCP Episcopal Commission for the Pastoral Care of Migrants and Itinerant People (ECMI) and Pioneer Life, Inc. organized the program to encourage workers and their families to wisely manage their finances. "Pamilyang OFW Savers and Wellness Club" was one of 18 grantees from more than 200 applicants. Under the program, each family is encouraged develop the habit of saving and building enough savings to allow for the early return of OFWs to their families. ECMI Executive Secretary Fr. Edwin Corros said the project is part of the reintegration program that the Catholic Church has established for OFWs. “The government for a time has not introduced a doable reintegration program," he said. For his part, Pioneer Life CEO Lorenzo Chan said his company believes introducing financial literacy workshops nationwide would raise awareness on the need to save for the future. ILO Director Linda Wirth said a common coping strategy for people in times of emergency is to borrow money. She said this is because about 80 percent of the world’s population do not have social security and has created the niche for micro-insurance. “Bill and Melinda Gates Foundation has extended assistance to develop innovations to help millions of people across the globe," Wirth said while lauding the project jointly launched by Pioneer Life and the CBCP-ECMI. Wirth, who is leaving ILO after over 20 years, added migrant workers’ reintegration remains their top priority and how to translate economic growth with more gainful employment. — LBG, GMANews.TV