{"id":243040,"date":"2020-01-24T21:01:43","date_gmt":"2020-01-25T02:01:43","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=243040"},"modified":"2025-01-07T15:06:20","modified_gmt":"2025-01-07T20:06:20","slug":"lawmaker-wants-greater-accessibility-of-credit-to-farmers","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/01\/24\/lawmaker-wants-greater-accessibility-of-credit-to-farmers\/","title":{"rendered":"Lawmaker wants greater accessibility of credit to farmers"},"content":{"rendered":"
\"\"<\/a>
Salceda said the bill introduces missionary financial inclusion initiatives in rural communities to ensure that banking services are actually accessible to farmers. (Pexels Photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2013 A bill providing farmers, fisherfolk, and rural communities greater access to credit has been filed at the House of Representatives.<\/p>\n

Albay Rep. Joey Salceda filed on January 23 House Bill 6039, which mandates banking institutions to strengthen the financing system for agriculture, fisheries, and rural development in the country.<\/p>\n

buy finasteride online https:\/\/www.indcheminternational.com\/wp-content\/uploads\/2024\/08\/jpg\/finasteride.html<\/a> no prescription pharmacy <\/div>\n

A copy of the bill was sent to reporters on Friday.<\/p>\n

Salceda said the bill aims to enhance the Agri-Agra Reform Act of 2009 (Republic Act No.<\/p>\n

buy zocor online https:\/\/www.indcheminternational.com\/wp-content\/uploads\/2024\/08\/jpg\/zocor.html<\/a> no prescription pharmacy <\/div>\n

10000), as well as a key reform to achieve the A-level credit rating the country is pursuing.<\/p>\n

Salceda said the bill introduces missionary financial inclusion initiatives in rural communities to ensure that banking services are actually accessible to farmers.<\/p>\n

Under the proposal, lending to programs or projects that seek to make financial services like virtual banking available at little or no cost to farmers can be considered in assessing a bank\u2019s compliance with the Agri-Agra Reform Law.<\/p>\n

\u201cAgri-Agra requires banks to lend a certain portion of their portfolio to farmers and fisherfolk. Of course, it has not worked to the fullest because farmers aren\u2019t banked in the first place. High-risk\u00a0ang<\/em>\u00a0farmers for conventional banks,\u201d Salceda said.<\/p>\n

\u201cBukod diyan, malayo ang bangko sa bukid. Marami pang<\/em>\u00a0requirements\u00a0kaya magpapabalik-balik ka. Siyempre, \u2018yung iba, sa malapit na<\/em>\u00a0five-six\u00a0na lang hihiram<\/em>\u00a0(Aside from that, banks are far away from farms. There are several requirements to fulfill, so they have to go back and forth to the bank. Of course, other farmers would just resort to 5-6 [lending scheme]),\u201d he added.<\/p>\n

The economist-lawmaker said physical banking would no longer be necessary with virtual applications that allow an individual to open a bank account through a cellphone and borrow from a Bangko Sentral ng Pilipinas (BSP)-registered bank.<\/p>\n

\u201cAnd because virtual banks operate at lower costs,\u00a0mas mura ang<\/em>\u00a0loans\u00a0na kayang ibigay<\/em>\u00a0(then the loans offered become cheaper),\u201d he said.<\/p>\n

He noted that virtual banking will grow even more accessible when the proposed Virtual Banking Act is passed<\/p>\n

\u201cOnce that happens, my amendments to Agri-Agra will also help ensure that even farmers from remote communities can be included in the banking and lending system,\u201d he said.<\/p>\n

He said the Agri-Agra amendments are crucial, especially the provision on financial inclusion for rural communities, to help achieve the administration\u2019s vision \u201cthat foresees the country\u2019s emergence as a predominantly middle-class society.<\/p>\n

buy celexa online https:\/\/www.indcheminternational.com\/wp-content\/uploads\/2024\/08\/jpg\/celexa.html<\/a> no prescription pharmacy <\/div>\n

\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2013 A bill providing farmers, fisherfolk, and rural communities greater access to credit has been filed at the House of …<\/p>\n","protected":false},"author":44,"featured_media":222674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-243040","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","mauthors-filane-mikee-cervantes","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/243040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=243040"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/243040\/revisions"}],"predecessor-version":[{"id":280225,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/243040\/revisions\/280225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/222674"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=243040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=243040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=243040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}