The FilAm Megascene
March 16-31, 2015
BalikBayanihan: The Global Filipino’s Journey From Diaspora To Philippine Development Social remittances to the Philippines create long-term, genuine progress
The Commission on Filipinos Overseas (CFO) gathered the country’s most influential Filipino community leaders from around the world for the 3rd Global Summit last February 25-27 at the Manila Hotel
MANILA, Philippines (March 5, 2015) – In 2014, around 10.5 million Overseas Filipinos (OF) working or residing in more than 200 countries had remitted an astounding $28 billion or P1.2 trillion to the country, according to the World Bank. And yet, the Commission on Filipinos Overseas (CFO), the primary government agency tasked to protect and uphold the rights and welfare of OFs, says there’s a much more important currency that global Filipinos are sending back. They are social remittances.
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