BSP boosts microfinance lending

MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) has further eased its guidelines on microfinance lending to allow banks to disburse more funds in the countryside particularly for the agriculture and agrarian reform sectors. 

The central bank issued Circular 748 covering the new rules on the Micro-Agri Loans and liberalizing the initial Micro-Agri Circular 680. 

The new rules reiterate the possibility of using the microfinance technology and methodology to effectively deliver other types of financial services including credit for small farming activities.

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