Legislative History
| House Bill/Resolution NO. House Bill No. 3271, 12th Congress of the Republic | |
| FULL TITLE : AN ACT TO OPEN LOAN WINDOWS FOR FILIPINO MIGRANT WORKERS, AMENDING FOR THE PURPOSE OF SECTIONS 6 (A) AND 21 OF REPUBLIC ACT NO. 8042, OTHERWISE KNOWN AS THE MIGRANT WORKERS AND OVERSEAS FILIPINOS ACT OF 1995 | |
| ABSTRACT : "The Loan Windows for Filipino Migrant Workers Act of 2001". This bill substantiates the policy of the State to see to it that Filipino migrant workers shall have access to loans needed by them to finance their deployment abroad. >In addition, thisproposed measure seeks to open up loan windows not only of Government Financial Institutions (GFIs) but also private money lenders, so as to assist our poor, unemployed countrymen to land gainful jobs abroad. In effect, it will also activate the practically moribund Loan Guarantee Fund. In the process, it is hoped that illegal recruitment will also be curbed as workers will have to go to the legitimate route in order to avail of the loans. | |
| PRINCIPAL AUTHOR/S : MARCOS, IMEE R. | |
| DATE FILED : 2001-09-27 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Echiverri (035 ) | 2. Espina (041 ) |
| 3. Syjuco (057 ) | |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-10-02 |
Abstract
"The Loan Windows for Filipino Migrant Workers Act of 2001". This bill substantiates the policy of the State to see to it that Filipino migrant workers shall have access to loans needed by them to finance their deployment abroad. >In addition, thisproposed measure seeks to open up loan windows not only of Government Financial Institutions (GFIs) but also private money lenders, so as to assist our poor, unemployed countrymen to land gainful jobs abroad. In effect, it will also activate the practically moribund Loan Guarantee Fund. In the process, it is hoped that illegal recruitment will also be curbed as workers will have to go to the legitimate route in order to avail of the loans.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.