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Munich Personal RePEc Archive

Philippine Rural Finance: Innovations and Current Issues

Vargas, Jerrick Jan (2021): Philippine Rural Finance: Innovations and Current Issues.

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Abstract

Obtaining loans from Philippine banks is difficult and government support to credit was inadequate. The overall rural sector in the Philippines needs better access to credit since it could enhance their livelihood by means of expanding their agricultural activities. Farmers must also be encouraged to use high yielding inputs such as seeds, farm mechanization equipment and other harvesting and planting equipment in order to improve the quality and quantity of output. This could improve the loan repayment rates on the part of the farmers. More competition and not government subsidies to individuals or institutions is the key on having an efficient, sustainable and forward-looking rural finance sector.

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