BSP empowers Cotabato farmers, fisherfolk with fin-ed

The Bangko Sentral ng Pilipinas (BSP) conducted an Economic and Financial Learning Program (EFLP) in Cotabato City from 17 to 18 September 2025. The program aimed to help farmers, fisherfolk, and agri-entrepreneurs in the area make smarter financial decisions.

With the theme “Kaalamang Pinansyal para sa pAGRIsenso at Matatag na Kinabukasan,” the sessions covered a wide range of topics. This included agri-business development, financing and insurance options, digital financial tools, and strategies for emergency preparedness and long-term financial planning. Participants also learned about Islamic banking and financial services for Muslim communities.

In a recorded message, BSP Deputy Governor Bernadette Romulo-Puyat said: “Higit pa sa kabuhayan, ang layunin namin ay maibahagi sa inyo ang kaalaman at kasanayan na maaari ninyong ipasa sa inyong mga anak at apo.”

“Isipin ninyo ito bilang puhunan. Hindi lang para sa ngayon, kundi para sa kinabukasan ng inyong pamilya at komunidad.”

Ahead of the main sessions, an offshoot activity on 16 September 2025 was held for the personnel of the Ministry of Agriculture, Fisheries, and Agrarian Reform (MAFAR) on personal financial management. Then on 19 September 2025, participants had the chance to open accounts and experience the benefits of formal financial services.

According to the BSP's 2021 Financial Inclusion Survey, 73% of farmers and fisherfolk remain outside the formal financial system. Barriers include limited access to banks, high transaction costs, lack of documentation, and low financial awareness.

Through the EFLP, the BSP continues to advance financial education and inclusion, especially in underserved sectors like agriculture. The Cotabato session was the fourth EFLP rollout this year, following earlier sessions for students and educators, MSMEs, and BSP employees.