Benjamin E Diokno: Virtual Signing Ceremony for the MOU with
British Embassy of Manila on the Prosperity Fund for the ASEAN
Economic Reform Programme (AERP) and the ASEAN Low Carbon
Energy Programme (ALCEP)
Address by Mr Benjamin E Diokno, Governor of Bangko Sentral ng Pilipinas (BSP, the central
bank of the Philippines), during the virtual Signing Ceremony for the MOU with British Embassy
of Manila on the Prosperity Fund for the ASEAN Economic Reform Programme (AERP) and the
ASEAN Low Carbon Energy Programme (ALCEP), Manila, 17 March 2021.
* * *
Ambassador Pruce, Secretary Dominguez thank you for inviting me to be part of this important
occasion. Today, the Philippine financial agencies and our UK partners committed to cooperate
on areas of mutual interest through this Memorandum of Understanding.
Let me extend our appreciation to the UK government for the technical support extended to the
Philippines, especially to the BSP, on the development of green finance, and open banking.
The continuous capacity-building of our staff, as well as the enhancement of our policies and
methodologies in these areas including capital market and fintech development, will certainly
support our primary objective of maintaining a stable monetary and financial system. Financial
inclusion is also one of BSP's top advocacies, and the collaboration on fintech and open banking
as envisioned under the MOU, is also expected to advance the BSP's thrust to promote greater
access to financial products and services.
As we pursue the various programs under the MOU, we take this opportunity to also share our
knowledge and regulatory perspective to contribute to the development of innovative approaches
in risk-based supervision, sustainable banking, and fintech solutions.
We look forward to working closely with our UK and Philippine partners and supporting the
successful implementation of the MOU. Thank you.