Microfinance group lends P3M to OFWs in Singapore

A Filipino-run microfinance group released more than P3 million as loans for qualified overseas workers in Singapore. Alalay Sa Kaunlaran Inc. (ASKI) Global Ltd. offered the loans to OFWs who completed an 11-week entrepreneurship training. News site Microfinance Focus said those who availed of the loans came from various provinces in northern and central Philippines. ASKI Global Ltd. began in July 2010 as the first international office of ASKI, headquartered in Nueva Ecija, to help the financial needs of Filipinos in Singapore. ASKI Global Ltd. got the approval of the Overseas Economic Board of Singapore to train not only Filipinos but also Indonesian and Sri Lankan migrant workers. — OFW Journalism Consortium