20 years has been all about transformation. as we mold ourselves and the financial markets through the last two decades, we have always had the banking community as a partner. from the term of gov. gabriel singson to gov. rafael buenaventura, and up to now, we have always nurtured a consultative process. i assure you that while we may not always agree on every policy detail, we will continue to find ways to address these issues together. moving forward, we expect to continue relying on the consultative process. we cannot afford a unilateral approach. we ask the banking community therefore to take an active role in addressing the issues that lie before us. ladies and gentlemen. with your support and cooperation, the bangko sentral has had a good track record in its first 20 years. and while our record of accomplishments is far from perfect, we are reassured by the recognition the bangko sentral continues to receive here and overseas. we are also heartened by our progress in developing a more inclusive financial system, the implementation of our nationwide economic and financial learning program, and enhancing protection for finance consumers. we need to think out of the box in mobilizing savings in the region, providing extended financial access through both mainstream and non - mainstream channels and creating alternative sources of financing for borrowers and entrepreneurs. toward this end, the bangko sentral looks forward to more partnerships with the banking community in ensuring sustained and inclusive growth for all. once again, we at the bangko sentral ng pilipinas thank the banking community and other sectors represented here tonight for your continuing support and cooperation. mabuhay po tayong lahat! mabuhay ang ating mahal na bansang pilipinas! maraming salamat. and let ’ s enjoy the rest of the evening. bis central bankers ’ speeches

practices. • we also conduct advocacy activities thru strategic partnerships. one good example is the citi microentreneurship awards that the bsp has been carrying out annually with citi foundation, citibank and the microfinance council of the philippines. this bis central bankers ’ speeches awards program highlights inspiring success stories of microentrepreneurs across the philippines. ladies and gentlemen. the philippine national strategy for financial inclusion ( nsfi ) brings the central bank and 12 other government agencies together thru a highly consultative process to achieve convergence. it also sets a framework for government and the private sector to systematically collaborate, ensure cohesion and promote synergy. agency tactical plans are being finalized with specific policies, programs and progress indicators which will be shared thru dialogues to jumpstart convergence of multi - sectoral actions, and identification of concrete areas for partnership and collaboration. it is pleasing to note therefore that 8 countries in asia pacific are at varying stages of implementing their own nsfis, while 9 other countries are currently formulating theirs. evidently, we all aim to facilitate domestic convergence and quantum leaps thru a national strategy. indeed, convergence across regions and with international partners is necessary in the light of cross - cutting issues that may impact financial inclusion objectives. these issues include the cost of cross - border remittances, the potential impact of economic integration on small businesses, and international standards that may adversely affect institutions providing financial services in rural areas, to name a few. these all require concerted global attention and strategic convergence. fortunately, such a convergence is beginning to happen. apec and asean have committed to promote financial inclusion. and financial inclusion is already being discussed in international bodies such as the g20, the united nations, the world bank and the imf, as well as standard setters like the basel committee on banking supervision and the financial action task force. in addition, about 95 developing countries are now members of the alliance for financial inclusion. conclusion ladies and gentlemen. we have before us the opportunity to catalyze a quantum leap for financial inclusion in asia pacific and the world. clearly, it is an ambitious goal ; but the 1. 2 billion people who remain unserved in our part of the world represent a billion compelling reasons to continue to escalate our efforts to bring financial inclusion to the excluded, to those who continue to live in poverty. together in this summit, i hope we can craft an action plan that would help make the asiapacific a better