The Executive Summary of the Proceedings of the International Conference on Best Practices on Paving the Way Forward for Rural Finance (USAID et. al 2003) stated that concern for food security and the vulnerability of the population in rural communities, the high incidence of poverty and the growing income disparity between the urban and rural areas necessitate an efficient rural financial market. Like most developing countries, rural finance in the Philippines is faced with challenges that need to be addressed in order to meet the Millennium Development Coal 7.
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