Inclusive growth has been defined by the National Economic Development Authority (NEDA) as a sustained growth that creates jobs, draws the majority into the economic and social mainstream, and continuously reduces mass poverty. To achieve this goal, development in rural areas has become imperative.
Also, the presence of sustainable rural banks and its financial services is as equally important, as it can provide the countryside much-needed investments to spur local economic development. In this year’s Annual National Convention of the Rural Bankers Association of the Philippines (RBAP), the theme was “Rural Banks: Championing Inclusive Growth in an Exclusive World of Banking,” stressing the critical role of rural banks as forerunner in promoting inclusive growth.
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