A nationwide campaign on the significance of credit infrastructure in the financial system through a Credit Infrastructure Roadshow launched by CIC kicked off on 4th of March 2016 at the Hotel Stotsenberg in Clark, Pampanga.
In cooperation with the International Finance Corporation (IFC), Rural Bankers Association of the Philippines (RBAP) and the United States Agency for International Development (USAID), CIC aims to educate relevant stakeholders to fully understand what financial infrastructure and significance of it to the financial system and how reliable credit registry is to the stability of financial environment.
The roadshow was attended by around 160 bankers from Pampanga, Nueva Ecija, Bataan, Zambales, and Bulacan.
“Sharing would be key to an efficient credit information system," said Dr. Mario Lamberte, Component Team Leader of USAID Advancing Philippine Competitiveness (COMPETE) project. Dr. Lamberte emphasized that through the credit information system, lenders will have a comprehensive view of credit exposure of loan applicants.
Among the topics discussed at the event were the benefits of acquiring movable collaterals.
“To achieve the end goal of increasing access to finance for SMEs, we all need a shift in mindset. For the government, it entails sustained will to see the reforms through. For the financial institutions, to have increased confidence to lend based on good credit information and broader types of movable collateral. Above all, we need to take a parallel effort on financial education to instill responsible borrowing behavior,” said Ms. Gay Santos, Operations Officer of the IFC.
From Pampanga, the roadshow will move to various key cities in Visayas and Mindanao right after the holy week. For more information about the Credit Infrastructure Roadshow, contact the CIC at 893-6249 or like us on Facebook.