Digitalization, green finance critical components for post-COVID-19 economy — BSP

The BSP emphasized the critical role of digitalization and green finance in realizing its vision of a resilient Philippine economy following the pandemic.

The Bangko Sentral ng Pilipinas (BSP) emphasized the importance of digitalization and green finance in its efforts to realize its vision for a strong Philippine economy "post-COVID-19."

BSP Governor Benjamin E. Diokno (left) shared the BSP's vision for a "greener and more resilient, technologically advanced, and inclusive" post-pandemic economy during the recent BSP-Philippine Institute for Development Studies Research Forum.

Financial digitalization is a critical objective of the BSP's Digital Payments and Transformation Roadmap, which aims to digitize at least 50% of total retail payment volume and to connect 70% of Filipino adults to the formal financial system via payment or transaction accounts.

Meanwhile, green or sustainable finance incorporates environmental, social, and governance standards when evaluating an asset's value, performance, and long-term growth.

The forum, titled "Resilient Legs for Economic Recovery in the Post-Pandemic Era," drew economists, policymakers, academics, and members of non-governmental organizations. (Source: BSP/PRESS RELEASE)

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