The agriculture sector is vital to the Philippines, contributing significantly to the country's economy. Despite its importance, Filipino farmers face challenges in accessing financial services. According to the Bangko Sentral ng Pilipinas' 2021 Financial Inclusion Survey, 73% of farmers lack bank accounts due to insufficient funds and complex documentation requirements. This financial exclusion hinders their growth and development, highlighting the need for accessible financial solutions tailored to their needs. To address these challenges, BanKo, the microfinance arm of the Bank of Philippine Islands, launched the Agri-NegosyoKo Loan Program. This initiative offers loans ranging from P50,000 to P300,000 with a low monthly interest rate of 2.3%. The application process is simplified, requiring only a valid ID, an ID picture, and a cooperative membership certificate. BanKo collaborates with cooperatives to guide farmers through the application process, ensuring trust and confidence through personal engagement. The Agri-NegosyoKo Loan aligns with government policies like the New Agri-Agra Law, which mandates banks to allocate funds to the agriculture sector. This program not only complies with the law but also supports the National Strategy for Financial Inclusion's goal of enhancing the agriculture financing ecosystem. Additionally, BanKo partners with BPI Foundation to provide financial education, empowering farmers with skills in financial management, budgeting, and credit building. This holistic approach ensures farmers are equipped to maximize their resources and sustain their livelihoods.
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Empowering Filipino Farmers Through Financial Inclusion

The agriculture sector is vital to the Philippines, contributing significantly to the country's economy. Despite its importance, Filipino farmers face challenges in accessing financial services. According to the Bangko Sentral ng Pilipinas' 2021 Financial Inclusion Survey, 73% of farmers lack bank accounts due to insufficient funds and complex documentation requirements. This financial exclusion hinders their growth and development, highlighting the need for accessible financial solutions tailored to their needs.

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