Informality, lack of financial acumen still obstacles for micro businesses

More Filipinos secured small-scale loans last year as the number of banks engaged in microfinance continued to increase, a success story which has seen the loan portfolio of microlenders more than triple since 2002, the head of the Bangko Sentral ng Pilipinas (BSP) said during the launching of the 14th Citi Microfinance Awards (CMA) on Tuesday.

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