The Overseas Workers Welfare Administration (OWWA) and BDO Unibank renewed their strategic partnership Thursday, aimed at expanding financial services and support systems for overseas Filipino workers (OFWs).

The memorandum of understanding, signed at the OWWA central office, formalizes a long-standing cooperation between the government agency and the country’s largest bank.

OWWA Administrator Patricia Yvonne Caunan said the agreement builds a stronger framework to provide OFWs and their families with greater financial security and stability.

“This collaboration reflects a whole-of-government approach,” Caunan said during the ceremony. “It brings together public service and private sector enterprise and expertise to respond more effectively to the evolving needs of our OFWs.”

Caunan cited that BDO has been a consistent partner in the agency’s pre-departure orientation seminars, where the bank provides essential financial literacy training to Filipinos preparing for employment abroad. She added that the partnership also focuses on ensuring that returning workers have access to economic opportunities within the Philippines.

BDO senior vice president and Remittance head Genie Gloria described the signing as a “restart” of a relationship that dates back to 2006.

“We have been working together for more than 20 years,” Gloria said, noting the scale of the bank’s involvement in the sector. According to Gloria, nearly 50 percent of all remittances sent to the Philippines are processed through BDO accounts.

The partnership aims to make social programs more accessible and responsive to the needs of OWWA members.

Caunan expressed hope that the collaboration would eventually move beyond standard financial access to create more comprehensive support structures.