The Bangko Sentral ng Pilipinas will move its coin minting and currency printing complex to the new government complex that the Duterte administration is building 100 kilometers north of Metro Manila—a move that is expected to be completed by 2022.
On Friday, BSP Governor Benjamin Diokno signed a deal with the Bases Conversion and Development Authority to transfer its currency production facility to New Clark City in Capas, Tarlac.
Under the agreement signed with BCDA president and CEO Vivencio Dizon, the two government agencies committed to work toward the establishment of the new production facility on a 29.22-hectare parcel of land within the New Clark City-National Government Administrative Center.
“We are proud that the Bangko Sentral chose New Clark City as the site of its facilities,” Dizon said. “The relocation of government agencies to this future-proof and resilient metropolis brings the vision for the city of the future to life.”
The new BSP facility is conveniently located near the access road connecting New Clark City to the Subic-Clark-Tarlac Expressway.
Diokno explained that “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,” he 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,” he added.
The central bank chief said it was crucial for the BSP to maintain a currency production facility that would allow sufficient agility to meet the country’s currency requirements.
“The move to the New Clark City will also boost the bank’s capacity to sustain its operations in times of calamity or natural disaster,” he said.
The agreement indicates that the development of the offices of BSP in New Clark City will be consistent with the first phase development of the new complex within a four-year time frame, from 2019 to 2022.
The 200-hectare government complex is the first phase of New Clark City, the country’s first smart, green, sustainable and resilient metropolis. The 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.
The first phase also includes the world-class sports complex to be used for this year’s Southeast Asian Games, a residence for government employees and a river park, all of which are 98-percent complete. —DAXIM L. LUCAS