Category : Press Release
Date : September 13, 2019
Agency : Bangko Sentral ng Pilipinas
Title : BSP inks MOU with BCDA to transfer currency production facility to New Clark City
Article : The Bangko Sentral ng Pilipinas (BSP) signed on Friday, 13 September 2019, a memorandum of understanding (MOU) with the Bases Conversion and Development Authority (BCDA) to transfer its Currency Production Facility to New Clark City in Capas, Tarlac.

Under the MOU signed by BSP Governor Benjamin E. Diokno and BCDA President and CEO Vivencio B. Dizon, the two government agencies committed to work towards the establishment of the new production facility on a 29.22-hectare parcel of land within the New Clark City - National Government Administrative Center (NGAC).

“We are proud that the Bangko Sentral ng Pilipinas chose New Clark City as the site of its facilities. The relocation of government agencies to this future-proof and resilient metropolis brings the vision for the city of the future to life," BCDA President Dizon said.

The new BSP facility is conveniently located near the access road connecting New Clark City to the Subic-Clark-Tarlac Expressway (SCTEx).

Meanwhile, Governor Diokno explained that “the BSP follows a stringent set of criteria in selecting locations for its facilities. These standards—which encompass everything from lot configuration, site conditions, to infrastructural support—are intended to ensure that the BSP’s operations are optimally located. After an exhaustive canvass of sites north and south of Metro Manila, needless to say that the New Clark City is the only one that met the requirements of the BSP—with flying colors, might I add.”

“Consistent with the spirit of the New Clark City, the concept envisions a facility that will serve as a leading benchmark for a smart, green, modern complex, not just within the country, but on the global scale as well,” the Governor said.

Governor Diokno added, “it is crucial for the BSP to maintain a currency production facility that will allow sufficient agility to meet the country’s currency requirements. The move to the New Clark City will also boost the Bank’s capacity to sustain its operations in times of calamity or natural disaster.”

The MOU indicates that the development of the offices of BSP in NCC-NGAC shall be consistent with the Phase 1 development of the NCC within the four-year timeframe, from 2019 - 2022.

The 200-hectare NGAC is the first phase of New Clark City, the country's first smart, green, sustainable and resilient metropolis. The NGAC project involves the construction of back-up offices of government agencies to ensure continuous business operations and services in case of disasters or natural calamities.

Phase 1A also includes the world-class sports complex to be used for this year's South East Asian Games (SEA Games), a residence for government employees, and a river park - all of which are 98-percent complete.