MANILA, Philippines – Agriculture, fisheries, and agrarian reform sectors in the country are expected to gain improved access to financing now that regulators have broadened how banks can meet mandated lending requirements for these activities.
In a statement, the Bangko Sentral ng Pilipinas said that, along with the Department of Agriculture and the Department of Agrarian Reform, it had approved amendments to the implementing rules and regulations of the Agri-Agra Reform Credit Act of 2009.
The central bank explained that this would make it easier for banks to comply with the directed lending aspect of the law, which requires banks to allocate at least 25 perce…
Keep on reading: Regulators give banks more agri-agra lending options