BSP Inaugurates New Office Building, Launches Credit Surety Fund, and Conducts Learning Activities in Roxas City

BSP Inaugurates New Office Building, Launches Credit Surety Fund, and Conducts Learning Activities in Roxas City

The BSP will inaugurate its new office building in Roxas City, the eighth branch constructed using the new design of BSP buildings, on 8 March 2012. The program will commence at 10:00 a.m. with ribbon-cutting and marker-unveiling ceremonies to be led by BSP Governor Amando M. Tetangco, Jr. together with other members of the BSP Monetary Board, Capiz Governor Victor A. Tanco, Sr., Capiz 1st District Congressman Antonio A. del Rosario, and Roxas City Mayor Angel Alan B. Celino. The building structure will be blessed by the Most Rev. Jose F. Advincula, Jr., D.D., Archbishop of the Archdiocese of Capiz. The day before, on 7 March 2012, the BSP, in partnership with the Provincial Government of Capiz, will launch the Capiz Credit Surety Fund (CSF). The CSF is a fund created from contributions by well-capitalized and well-managed cooperatives with a counterpart contribution from the provincial government and other donors. It aims to help small businessmen who are members of cooperatives, as well as cooperatives that have their own business, obtain loans from the banks even without the usual hard collateral requirement. The surety cover issued by the CSF, which will take the place of collateral, will guarantee their loans with the banks.

The CSF Program is expected to increase lending activities in the province, as well as stimulate business and economic activities, generate employment, and increase the local government’s revenues.

The Capiz CSF will be the 21st to be established since the program’s inception in 2008.

Also on 7 March 2012, a briefing on the New Generation Currency will be held at the Capiz Provincial Capitol Hall of Governors from 9:00 to 11:00 a.m.  In the evening, the BSP Monetary Board will host a dinner reception for the Capiz and Aklan banking community at San Antonio Resort, Lawis Baybay, Roxas City.

The BSP will also conduct a series of activities under its Economic and Financial Learning Program (BSP-EFLP) from 8-10 March 2012. The BSP-EFLP consolidates the outreach educational activities of the BSP under one flagship program.  It consists of a series of learning sessions and activities which aim to promote greater awareness and understanding of essential economic and financial issues. This is expected to help the people make wise financial decisions. The BSP-EFLP also embodies the goal of the BSP to promote economic and financial education among its stakeholders, who can then be its more effective partners in maintaining the effectiveness of monetary policy as well as in ensuring a stronger and safer banking and payments system.

 Specifically, the following component programs1 of the BSP-EFLP will be conducted in Roxas City:

• "Be up to SPeed on BSP,” a public information campaign on the role of the BSP in the economy, 8 March 2012, 12:30 to 5:00 p.m., Urban Manor Hotel, Sacred Heart of Jesus Avenue, Pueblo de Panay, Lawa-an, Roxas City;
• Financial education expo for the work force, 9 March 2012, 8:00 a.m. to 4:00 p.m., The Grand Pavilion, La Hacienda Grande Hotel, Arnaldo Boulevard, Roxas City;
  
• "Paghahanda sa Kinabukasan,” a financial learning campaign for overseas Filipinos and their beneficiaries, 9 March 2012, 8:30 a.m. to 3:00 p.m., Urban Manor Hotel; and
• Financial education expo for students and members of the academe, 10 March 2012, 8:00 a.m. to 4:00 p.m., The Grand Pavilion.
  

The implementation of the BSP-EFLP in Roxas City is the first for this year.  The BSP plans to conduct seven more EFLP campaigns in various cities in Luzon, Visayas and Mindanao for the rest of 2012. <bsp.gov.ph> - https://www.affordablecebu.com/