President Arroyo will explore job opportunities abroad for Filipino migrant workers when she embarks Friday on a week-long trip to Bahrain, Spain and Switzerland.

Mrs. Arroyo will also spread the word about the country?s best practices in creating a cushion against the financial meltdown during the World Economic Forum in Davos this weekend, Malaca?ang said in a statement.

Meanwhile, displaced workers can turn to the Overseas Workers Welfare Fund for easy loans of P50,000 each to tide themselves over the crisis.

Labor Secretary Marianito Roque said OWWA?s board of trustees set aside a P100-million fund to start up a livelihood or business for OWWA members displaced by the global financial crisis.

Deputy spokesman Lorelei Fajardo said Mrs. Arroyo will deliver a speech on ?Rebooting the Global Economy? during the annual meeting that will be attended by key finance, trade and energy ministers from Jan. 28 to Feb. 1.

?The Philippines is being recognized on the global front when it comes to strategies in resolving the crisis. Our strategies and accomplishments are recognized worldwide. We will share our experience. It?s very significant because all nations are focused on how to resolve this crisis,? Fajardo said.

The 39th WEF will have the theme ?Shaping the Post-Crisis World? and will bring together more than 2,500 participants from 96 countries, including 41 heads of state.

From Davos, President Arroyo will proceed to Milan to meet with the Filipino community before flying to Bahrain to meet with Prime Minister Khalifa Bin Salman Al-Khalifa.

Fajardo said the two leaders will discuss new job markets for Filipinos who will be affected by the economic crisis in Bahrain as Middle East countries continue to be relatively spared from the adverse effects of the meltdown.

?There will be discussions on overseas Filipino workers as well as potentials and opportunities that can be opened to those who would be retrenched from the US and China. That will be one of the primary agenda of the meeting,? she said.

Fajardo said the President is also set to meet with possible investors in the tourism and infrastructure sectors in Switzerland and in Bahrain but declined to give details yet.

?We would like to tell [foreign] businessmen that there?s a big potential to invest here. We have laid down the foundation to have a good business relationship here. We?re also proud of our workforce and the low labor cost,? Fajardo said.

The loan is collateral-free and payable in two years at 5-percent interest rate per annum, said administrator Carmelita Dimzon of the workers? fund.

A borrower is required to show proof of OWWA membership, proof of displacement due to the global crisis, business proposal, promissory note and marital consent by the worker?s wife or husband.

OWWA said at least 3, 500 migrant workers have lost their jobs as a result of the crisis. The Labor department placed the job losses at 15,000 as of January 19 including 1,800 workers that will be retrenched by the planned closure of Intel?s manufacturing plant in Cavite. Joyce Pa?ares, Arlie Calalo and Roy Pelovello