Although the President of the ESCB is expected to appear periodically before the European Parliament, the latter does not have the same powers as the US Congress, which can in principle amend the Federal Reserve Act. Furthermore, any discussion of the European policy mix will be different in nature because budgetary policy will remain the province of the European Member States.
In so doing, micro-agri loans today enjoy the same benefits as microfinance loans… including no collateral requirements, cash flow and character based lending, small and frequent amortizations, as well as simple documentary requirements. Through MAP, therefore, we have addressed the hurdle typically faced by small farmers when accessing financial services to grow their production and expand their economic activities.