Financial autonomy for Mindanao

Apart from moves for a bigger chunk of the national budget for the government in Mindanao, Senator Edgardo Angara is proposing that government financial institutions should put up separate and autonomous units here which could make independent decisions, especially on the government’s role to lend to small entrepreneurs.

Angara criticized major players such as Land Bank of the Philippines and the Development Bank of the Philippines for centralized decisions on matters affecting directly Mindanawon borrowers. He said the problem is exacerbated by red tape.

The senate’s committee chair on agriculture and food gave the keynote speech at the Mindanao Food Congress on Wednesday. Read more about a report on his speech on MindaNews.com.