Ayala unit defies risks of lending to farmers

MANILA, Philippines — The microfinance arm of Ayala-led Bank of the Philippine Islands (BPI) has launched a loan program for farmers with hopes of improving financial literacy (finlit) and access to additional funds for agricultural workers. Rod Mabiasen Jr., BanKo president, on Wednesday said their Agri NegosyoKo loan program provided lower interest rates—at 2.3 percent
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