Meanwhile, microfinance shall continue to be the BSP’s program for poverty alleviation, with collateral-free loans providing the entrepreneurial poor (e-poor) with much needed capital to start a micro enterprise. The BSP will also continue to push for the passage of key legislative bills to accelerate the development of the local capital market and further strengthen the regulatory authority.
In particular, we shall push for the implementation of a centralized credit information bureau to improve the quality of financial information to investors, expand private sector access to credit, minimize exposure to risks of financial intermediaries, and lower cost of borrowing.