BSP, BCDA ink pact for transfer of currency production facility to New Clark City

The Bangko Sentral ng Pilipinas (BSP) on Friday signed 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.

The MOU was signed by BSP Governor Benjamin Diokno and BCDA president and CEO Vivencio Dizon on Sept. 13.

Under the accord, the BSP and BCDA commit 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).

The central bank's currency production facility is currently located in Quezon City.

“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,” Dizon said.

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

“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,” Diokno said.

“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 BSP chief said.

The central bank chief said that 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 BSP’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 to 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% complete. — RSJ, GMA News