Rural banks as partners in MSME development

As an engine for jobs creation and a major contributor to the gross domestic output, the role of the micro, small and medium enterprises (MSME) sector in the country’s economic growth cannot be overemphasized.

And so, when the Rural Bankers Association of the Philippines (RBAP) inked a Memorandum of Cooperation with the United States Agency for International Development (USAID) last March 31, it envisioned the untapped potential of small entrepreneurs and their impact on the Philippines’ economic boom.