BSP-led financial inclusion roadmap to enhance Filipinos’ financial resilience

The Bangko Sentral ng Pilipinas (BSP) aims to enhance the financial resilience of Filipinos through the National Strategy for Financial Inclusion (NSFI) 2022-2028, which seeks to facilitate a coherent and nationwide effort to accelerate financial inclusion.

The BSP leads the implementation of initiatives under the NSFI through the interagency Financial Inclusion Steering Committee (FISC) which it chairs.

“Financial resilience means individuals and households have the ability to mitigate and manage potential risks to their sources of income and their overall financial position,” explained BSP Governor E. Diokno.

Financial resilience will also allow Filipinos, especially the poor, to reduce the negative impacts of natural disasters, health crises, and other vulnerabilities on their personal finances.

To achieve its vision of inclusive growth and financial resilience for all, the NSFI has identified improved access to social protection and social safety nets–cash assistance, health and unemployment insurance, disaster risk insurance, and pension–as one of its objectives.

“Building financial resilience will enable Filipinos and their families to benefit from and contribute to the country’s economic growth,” said the Governor.