The Rural Bankers Association of the Philippines (RBAP), an organization founded to promote the rural banking industry in the Philippines, recently stated that its members will take measures to assist farmers and small and medium-sized enterprises affected by El Nino, a climate pattern that often results in weather disturbances. For instance, affected farmers can restructure their loan repayment schedules. SMEs hit by droughts can receive loans for water pumps, and SMEs that rely on hydroelectric power can receive loans for generators to counteract brownouts. Some banks are also offering microinsurance for farmers and SMEs, although few details are so far available.
By Christopher Maggio, Research Assistant
About
Rural Bankers Association of the Philippines (RBAP)
Description
Founded in 1955, RBAP was initially established by representatives from the original eighteen rural banks operating in the Philippines. RBAP’s stated intention is “to become the leading force in the Philippine national banking system in bringing the benefits of the economic system to increasing numbers of rural customers” through a coordinated banking system.
Contact
Address
2/F RBAP Bldg A.Soriano Jr. Ave. corner Arzobispo St. Intramuros, Manila
Telephone.: +632 527 2972, 527 2968
Fax: +632 527 2980, 527 2969
Email: info@rbap.org
Additional Resources
Malaya Business Insight article entitled ‘Rural banks offer loan relief for El Niño stricken farmers’: http://www.malaya.com.ph/03232010/busi3.html
MicroCapital’s Microfinance Universe profile: RBAP
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