Boosting local production! MinDA, DBP CREATE WINDOW FOR OFW INVESTMENT FUND

Overseas Filipino Workers (OFW) who send home an estimated $33.5-Billion or P1.6-T every year will now have an opportunity to invest without the risk of losing their hard-earned money to scams and risky ventures.

On Monday, I will meet with top officials of the Development Bank of the Philippines led by their President Emmanuel G. Herbosa to discuss extensively the proposed MinDA OFW Investments Fund to be managed by DBP.

The idea of the MinDA OFW Investments Fund was presented by President Herbosa during the Mindanao Bamboo Summit held Jan. 19 in Cagayan de Oro City.

During the Summit, which was live-streamed worldwide, several OFWs who joined on-line asked how they could join the Bamboo Development and other initiatives implemented by MinDA.

Under the proposed MinDA OFW Investments Fund, OFWs could place their money in the MinDA Special Projects Window which DBP would establish to fund the following activities:

1. Mindanao Fish Cage Farming Program;
2. Cattle Fattening and Breeding Program;
3. MinDA Communal Hog-Raising Program;
4. MinDA Bamboo Industry Development Program;
5. MinDA High-Value Fruit Trees Program.

All of these programs are funded by DBP with the support of Local Government Units who are direct participants.

DBP President Herbosa said the OFWs Investments could be safeguarded by ensuring Zero Risk on their money.

Instead of directly investing on risky projects, the OFWs could put their money on the MinDA OFW Investments Fund which DBP could use to partly finance MinDA-initiated projects.

The details of the MinDA OFW Investments Funds will be discussed during the meeting on Monday at the DBP Main Office in Makati, Metro Manila.

#KungGustoMaramingParaan!

#GovernanceIsCommonSense!

(Photo shows me and DBP President Herbosa during an activity in Taraka, Lanao del Sur which launched the Solar-Powered Irrigation Projects in the town.)