Monday, February 18, 2008 [ philstar.com ]
The Bangko Sentral ng Pilipinas (BSP) has approved a housing loan scheme that would allow low-income borrowers access to micro-financing to build low-cost houses.
The scheme, which also provided incentives for banks and micro-finance institutions, would allow for small loans that borrowers could be paid in frequent but small amounts.
BSP Deputy Governor Nestor Espenilla Jr. told reporters over the weekend that the micro-loan model has been tried and tested among low-income borrowers already used to schemes such as the traditional paluwagan and hulugan models. > > > [ full story ]
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