The French government has provided grants to the Rural Bankers Association of the Philippines. In a story published by the Philippines News Agency the support will go towards enhancing the country's digitalization of rural banks.
Kwara lauds this move by France. Rural banks have for the longest time helped to promote financial inclusivity in markets underserved by traditional commercial banks in the Philippines. It is therefore important for them to modernize and operate like digital financial institutions.
The grant will finance training, capacity building, and awareness-raising activities for the digital transition of core-banking systems to the cloud, with a focus on developing the financial inclusion of underserved and unbanked populations in the country.
The grant was provided within the framework of the global public policy reform of the financial inclusion sector in the Philippines and the implementation of Asian Development Bank (ADB) Inclusive Finance Development Program.