keep them more viable. we also have the barangay micro business enterprises ( bmbes ) act that seeks to encourage the formation and growth of micro business enterprises by intergrating them with the mainstream economy through incentives, marketing assistance, as well as training programs in production and management. in addition, microfinance institutions ( mfis ) and other financial service providers support msmes through financial products and other services critical to the entry, survival, productivity, and growth of enterprises. i am happy to share that the issi diagnostics also highlighted positive findings. for instance, issi found that especially when faced with high market demand, microenterprises are resilient to operational issues – in filipino we describe them as “ madiskarte ”. this indicates that given appropriate training and mentoring as well as adequate funding support, our microentrepreneurs can favourably respond to business opportunities. in other words, ladies and gentlemen, we stand to gain more benefits by having an increasingly nurturing environment for microenterprises. given this, i am confident that the nomination process for cma that we are launching today will generate an even better harvest for this year. in this connection, we all look forward to meeting more successful and innovative microenterprises that have the capacity to grow as well as the readiness and the desire to contribute to making lives better not only for their families but also for their communities. indeed, we want msmes to develop to their full potential and to help drive economic growth that is broad - based and inclusive. mabuhay ang microentrepreneurs! mabuhay ang ating mahal na bansang pilipinas! mabuhay po tayong lahat! bis central bankers ’ speeches

amando m tetangco, jr : moving forward together speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( the central bank of the philippines ), at the alliance for financial inclusion annual general meeting “ independence, host country and governance ”, port - of - spain, trinidad and tobago, 9 september 2014. * * * it is a great privilege for me to welcome all of you to the annual general meeting ( agm ) of the alliance for financial inclusion ( afi ). i feel distinct pleasure in seeing familiar pioneers of financial inclusion, and new faces gathered in this hall. we have a weighty agenda that includes landmark issues for afi and its membership. a key focus of today ’ s discussions is afi ’ s progress toward becoming an international, independent organization and the important next steps that we will all be taking together. as is the usual practice, we are having the agm before the global policy forum ( gpf ), afi ’ s centerpiece event where financial inclusion stakeholders gather. a members - only agm taking place before the gpf allows us to make collective decisions and have a unified voice before we set out to collaborate with our external stakeholders. let us make use of this agm as a venue that has, time and again, provided us with a collegial and enriching environment to discuss and find solutions to important matters facing us. this general meeting allows us to bring up our relevant individual and institutional concerns, to hear out our peers, and to share and leverage on our best practices and knowledge toward building a stronger network of nations championing financial inclusion. in the past two agms, we reached agreement and started the initial work to be a fully independent institution. in cape town, members reasoned that the aspiration for independence will foster a stronger policy - enabling environment for the members, and will strengthen afi ’ s leadership standing in financial inclusion. key considerations surrounding our pursuit of independence, such as legitimacy and fiscal sustainability, were underscored. also, last year in kuala lumpur, the afi host country bidding was officially launched. the adoption of this bidding process offered transparency that further fortified afi as a credible organization. today, we continue laying the foundation of our work toward our independence. in this meeting : members will be provided with an overview of the afi independence process, with a presentation to be made by superintendent daniel schydlowsky of peru. our resolve to achieve independence will not only advance our