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Banks loans to NFA now Agri-Agra Law compliance |
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(January 07, 2004 - Wednesday, Philippine Daily Inquirer)
LOANS to the National Food Authority (NFA) can be considered as a form of compliance with the Agri-Agra Law, according to a recent circular issued by the Monetary Board. |
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The Agri-Agra Law requires banks to set aside a quarter of their loanable funds for agriculture and agrarian reform projects.
The NFA borrows at least five billion pesos a year for rice importation, rice procurement, and administrative funding requirements. home | latest news |
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