BSP Bohol to sustain fiscal 

activity, economic growth 

TINAGO, Dauis, Bohol, July 30 (PIA)—Already streaking a growth rate of 9.1% which according to bank authorities, is higher than the national growth rate, Bohol would tend to greatly benefit from the Bangko Sentral ng Pilipinas (BSP), which will soon supply Bohol with world class currency. 

BSP Governor Nestor Espenilla Jr., revealed this during the short program after the ground breaking and capsule laying ceremonies for the new home of the BSP in Barangay Tinago Dauis, Bohol July 30. 

Espenilla, along with Gov. Edgar Chatto, National Economic and Development Authority (NEDA) Sec. Ernesto Pernia, Dauis Mayor Miriam Sumaylo, BSP Asst. Gov. Dahlia Luna, Provincial Administrator Ae Damalerio and Bohol Bankers Association President Elena Deligero officiated the groundbreaking rites for their branch in Bohol which is set to rise from an already cleared lot in Barangay Tinago, along the main highway to the tourism resorts in Panglao. 

Seeing the robust inflow of capital, the magnitude of economic activity, widespread development activity, and in anticipation of the operation as the major infrastructure that are soon expected to serve Bohol’s connectivity with the islands and the whole world, the BSP steps in to spur and sustain financial activity and economic growth here. 

By such, the BSP strengthens its commitment to serve the banking community, while their presence here means easy access for communities to get inputs on cash management, financial inclusion, as well as financial and economic awareness, Espenilla said. 

BSP information Officer Hazel Cultura shared that the new structure, which would be built according to established design and standards adopted by all BSP branches in the country would cost them P170 million, based on the BSP Project Development and management Officer Warren Coberes. 

The BSP is committed to immediately start the construction as soon as we can finish the paperworks, Espenilla said. 

Himself enthused by what he learned about the long term planning and the vision of Bohol which he admits, are essential to sustained development, Espenilla, who also happened to sit with Chatto as an economy student in their college days, said the leadership [in Bohol] is so enlightened, covering all bases to assure Bohol growth. 

Earlier, Governor Edgar Chatto, in his welcome remarks, said it was in 1995 that Bohol started crafting its vision and mission. 

The Bohol governor who keeps 36 years of public service and two Civil Service Commission distinctions in his belt, said Bohol has opted for industries that are not extractive, but complements its vision. 

Through the years, the governor also highlighted the role of Bohol bankers even as he rallied everyone to row together so the vision becomes sustained in time. 

At 9.1% growth rate, which is faster than the national economic growth, Espenilla said this reflects the bright future for Bohol. 

Early last year, the BSP revealed its plans to put up a Bohol Branch even as the central bank has long recognized the vital role of Central Visayas as an engine for financial growth in the region. (rahc/PIA-7/Bohol)