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Its initial directive was to offer financial services to Philippine industry and agriculture and provide for the government's economic development effort. Once World War I began in Europe, it created an enormous demand for the major exports of the Philippines, namely: sugar, copra, coconut oil, Manila hemp and tobacco...
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Once World War I began in Europe, it created an enormous demand for the major exports of the Philippines, namely: sugar, copra, coconut oil, Manila hemp and tobacco. Consequently, the Philippine legislature passed Public Act 2612 on February 4, 1916, providing for the business of the PBS to replace Agricultural Bank...
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