Overseas Filipinos Remittances for Development (OFReD):
Building a Future Back HomeAs Implemented in the Province of Ilocos Norte
Overseas Filipinos Remittances for Development (OFReD)
OFReD is spearheaded by the United Nations Development Program (UNDP), sponsored by Western Union's philanthropy arm-The Western Union Foundation (WUF) and implemented by National Economic Development Authority (NEDA) for the project's earlier stages, and currently, by the Commission on Filipinos Overseas (CFO). The OFReD Project was launched in the Province of Ilocos Norte in 2011.
The project aims to support policies that transform overseas remittances for development, savings and investments, and build a viable collective remittance fund.
The Collective Remittance Fund in Ilocos Norte
Collective remittances refers to the pooling of individual remittances in order to create a source of funds, large and stable enough, to finance meaningful investments in employment-generating activities.
The Western Union Foundation (WUF) through the Commission on Filipinos Overseas (CFO), the Provincial Government of Ilocos Norte (PGIN) and the Cooperative Bank of Ilocos Norte (CBIN), agreed to a fund matching scheme and raised Php 3 Million in August 2012.
Provincial Government of Ilocos Norte
Western Union Foundation
Cooperative Bank of Ilocos Norte
The Php 3 Million fund is designed to financially support Overseas Filipinos-based and initiated entrepreneurship projects that generate employment, sustain and increase their income and contribute to the local development in the process.
How the Fund Works
The fund is open to former or active overseas Ilocanos, including their immediate families, with new or existing enterprises in Ilocos Norte.
Female applicants are encouraged to apply, as part of the project's gender dimension initiative.
Special Interest Rate: 12% Per Annum
Credits went to fund various local enterprises
Dragon Fruit Planting
Dragon Fruit Planting
Imagine what else you and I can do
Contribute to the Collective Remittance Fund
Send any amount through your preferred banks or money transfer agents worldwide. All currencies accepted.
If you are making a donation from Ilocos Norte, you can visit Union Bank of the Philippines- Laoag Branch to make a donation of any amount.
Union Bank of the Philippines - Laoag BranchLaoag City, Ilocos Norte
Migration and Development Council-Ilocos Norte(Savings Account)
101 380 012 395
Allow us to
If you donated to the fund, send us your name, email, and deposit slip to:
Mr. Edwin Cariño
Millenium Development Goals Office Head email@example.com (+63)916 655 4858 / (+63)921 750 5050 +63 (077) 770-4192
Ms. Lillian Rin
Provincial Social Welfare Office Head firstname.lastname@example.org (+63)920 504 9237 +63 (077) 772-0464