Micro-entrepreneurs can expect better funding access from formal channels in the future as the central bank moves to better understand their credit situation and create policies improving the banks’ relationship with micro, small and medium enterprises (MSMEs).

In its Resolution No. 893, the Bangko Sentral ng Pilipinas’ (BSP) Monetary Board has approved the revision of banks’ microfinance report requirements in a bid to “improve the quality of data being submitted by banks which serve as inputs in formulating policies to further enhance the present regulatory environment in support of MSME lending.”

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