Indeed, with a small loan, or some savings, a microinsurance cover, steady remittance from abroad sent through formal channels and access to other financial services, more and more Filipinos are lifting themselves and their families out of poverty toward higher incomes, riskprotected assets, and brighter futures. Surveys indicate that roughly 25 percent of Filipinos still live in poverty.
One can say therefore, that we have millions of “reasons” to do our best in building an inclusive financial system. The timing is right. The Philippines is in a bright spot, with GDP growth averaging 6.6 percent in the last three years, one of the highest growths in Asia and the world.