The Bangko Sentral ng Pilipinas (BSP) said Wednesday it signed a memorandum of understanding with Deutsche Bundesbank, Germany’s central bank, to formalize their partnership on capacity building for the former’s personnel.
“For many years now, the Bundesbank has been the BSP’s strategic partner and has been supporting the BSP’s learning and development requirements through collaboration on technical programs, in-person seminars, online courses and study visits on benchmarking,” BSP Governor Eli Remolona Jr. said.
“These have greatly contributed to productivity enhancements. I am delighted we now have this MOU,” he said.
Deutsche Bundesbank executive board member Burkhard Balz noted the existing good and trusting cooperation between the Deutsche Bundesbank and the BSP and said he was looking forward to the enhancement of cooperation and bilateral projects.
Under the MOU, Germany’s central bank will carry out training services, consultation and advisory assistance for BSP personnel.
Deutsche Bundesbank experts have been conducting in-person or virtual capacity-building programs for BSP personnel since 2004.
Recent programs include the in-person training on “Credit Assessment and Analysis in the Central Bank’s Lending Operations” at the BSP head office in Manila in May 2023 and the online training on “Payment and Securities Settlement Systems” in October 2023.
Deutsche Bundesbank head of international central bank dialogue Martin Dinkelborg and German Ambassador to the Philippines Dr. Andreas Michael Pfaffernoschke witnessed the event.
Also present at the MOU signing were BSP Monetary Board members Benjamin Diokno, V. Bruce Tolentino, Anita Linda Aquino, Rosalia De Leon and Romeo Bernardo and Deputy Governors Chuchi Fonacier, Eduardo Bobier and Bernadette Romulo-Puyat.