The Bangko Sentral ng Philipinas (BSP) recently signed separate memoranda of understanding with the Agricultural Credit Policy Council (ACPC) and the Philippine-American Educational Foundation (PAEF)—Fulbright, as part of continuous strengthening of its research capabilities and intellectual exchanges.
“The joint undertakings with ACPC and PAEF-Fulbright affirm the BSP’s commitment to strengthen its research collaboration with the academe, as well as with domestic and foreign research institutions, as part of the central bank’s broader efforts to enhance research for policy initiatives,” BSP Governor Benjamin E. Diokno said in a statement.
Under their MoU, the BSP and the ACPC will widen and enrich their intellectual and financial resources and provide an evidence-based approach for program and policy formulation on sustainable agricultural credit services and programs. This collaboration will enrich BSP research capacity as ACPC has a broad understanding and experience with agricultural credit and rural finance-related issues and policies.
Meanwhile, the MoU with PAEF-Fulbright is seen to improve the legal, scientific, and technical capabilities of the BSP through educational and training programs said the BSP. The partnership will lay the groundwork for the grant of scholarships and training programs, as well as educational exchanges under the BSP’s capacity-building and research initiatives.
PAEF, which was founded in 1948, is the world’s longest-running Fulbright education exchange program. PAEF supports Philippine government agencies for staff development in addition to providing academic and research programs for students, academic faculty, and mid-career professionals.