Photo courtesy of Vico Sotto/Facebook.
The Pasig City local government has decided to partner with the Bangko Sentral ng Pilipinas (BSP) to support in its initiative for strengthening financial literacy among the cuty’s residents through a comprehensive education program targeting various sectors.
The partnership was formalized through the signing of a memorandum of agreement (MoA), marking a significant step toward equipping Pasigueños with essential financial knowledge and skills needed to make informed financial decisions and protect themselves from fraud and scams.
According to Pasig City mayor Victor MA. Regis ‘Vuco’ Sotto, under the MoU, a broad range of sectors will benefit from the program, including students, teachers, senior citizens, solo parents, youth groups, micro-entrepreneurs, cooperatives, market vendors, jeepney and tricycle drivers, homeowners’ associations and families relocated under government housing programs.
“The BSP and BDO Foundation will train local financial education advocates who will serve as resource persons and trainers in various city-led learning activities. These advocates are expected to help cascade financial literacy lessons throughout communities across Pasig,” Sotto explained.
In addition to this, the mayor added, the BSP is committed to provide educational materials, technical assistance and specialized seminars designed to improve understanding of budgeting, savings, investments, digital financial services and consumer protection.
The partnership’s ceremonial signing was also attended by Department of Information and Communications Technology (DICT) secretary Henry Aguda, who expressed support for the initiative and highlighted the growing importance of digital payments in promoting faster, safer and more transparent financial transactions.
Officials said the partnership aligns with the BSP’s broader campaign to promote financial inclusion and empower Filipinos through greater access to financial education. The central bank has been actively collaborating with local government units and private-sector partners to expand the reach of its financial literacy programs nationwide.
By fostering responsible financial management and increasing public awareness of financial risks, the program seeks to help residents build stronger financial resilience and contribute to the long-term economic development of their communities.
