Photo of President Elpidio Quirino while talking to the press.
Published: July 16, 2012
Although a failure in his efforts to minimize the Huk problem, President Quirino tried his best to improve the economic and social conditions of the country. He adopted a “total mobilization program” aimed at using the total resources, credit facilities, and technical knowledge to achieve economic progress. Among his achievements and accomplishments were the following;
1. The establishment of the Agricultural Credit Cooperative Financing Administration (ACCFA) to help farmers market their crops and save them from usurers.
2. The establishments of rural banks in the provinces to give load to farmers at low interest rates.
3. The creation of new government agencies to handle labor problems and to take care of and distribute relief to poor families as well as to the victims of natural disasters such as fires, floods, and typhoons.
4. The conclusion of the Quirino-Foster Agreement to further intensify the economic development of the country. This agreement provided for a Philippine-American partnership in the economic development of the country, wherein the United States furnish funds and technical advisers, and the Philippines will furnish labor and provide counterpart funds. All economic projects were to be jointly supervised by the Philippine Council for US Aid and the Foreign Operations Administration (FOA).