Philippines' Tetangco applauds microfinance steps

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Amando Tetangco, the governor of the Central Bank of the Philippines, on Friday discussed the results of a report on microfinance and called for banks to be more proactive in their provision of micro loans to further the country's aims.

At the 2010 Citi Microentrepreneur of the Year awards in Manila, Tetangco said the Philippines' efforts to promote microfinance and financial inclusion had placed the country on the international radar.

Tentangco noted that the Philippines ranked 3rd out of 55

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