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BSP Re-launches EFLC in Batac, Cascades Results of Consumer Finance Survey, Conducts Learning Activities in Ilocos Norte


The Economic and Financial Learning Center (EFLC) of the Bangko Sentral ng Pilipinas (BSP) in its Batac Branch Office will be re-launched on 14 May 2012 at 2:00 p.m. The program will include the unveiling of the EFLC-Batac signage, followed by the blessing of the EFLC premises.   During the same event, the second leg of the BSP Economic and Financial Learning Program (BSP-EFLP) for 2012 will be formally opened in Ilocos Norte.  BSP Governor Amando M. Tetangco, Jr. will lead senior officials from BSP Manila and Batac in hosting the event which will be attended by representatives of the Ilocos Norte banking, business and academic communities, officials from other government agencies as well as members of the media.

During the same day at 10:00 a.m., a briefing on the highlights of the Consumer Finance Survey (CFS) will be held at Java Hotel, Laoag City, to be immediately followed by a press conference in the same venue. The CFS generates data on the financial conditions of households, including what they own (financial and non-financial assets) as well as from whom and how much they owe funds (sources of credit and level of indebtedness). It also generates data on the income and spending patterns and insurance coverage of households.

Already in operation since 2008, the EFLC-Batac has expanded its scope and services by upgrading its facilities and linking with the EFLC network to ensure that all electronic resources in the EFLC in Manila are also available to the public in Batac.  Thus,  economic and financial learning will be made available to the people of Ilocos Norte not only through more conventional media like books and periodicals, but also through technology-based interactive learning modules, informative video clips and even educational computer games.  Researchers will also have a free hand to browse the digitized library collection, as well as the economic statistical database to gain information on economic issues that are of interest to them.  The re-launching of EFLC-Batac is in line with the BSP’s master plan to set up EFLCs in the BSP’s main office in Manila and in its 21 regional offices and branches nationwide.

Meanwhile, the BSP-EFLP consolidates the outreach educational activities of the BSP under one flagship program.  It consists of a series of learning sessions and activities which aim to promote greater public awareness and understanding of essential economic and financial issues. This is expected to help the people make wise financial decisions. The BSP-EFLP also embodies the goal of the BSP to promote economic and financial education among its stakeholders, who can then be its more effective partners in maintaining  stable prices  as well as in ensuring a stronger and safer banking and payments system.

Specifically, the following component programs1  of the BSP-EFLP will be conducted in Ilocos Norte:

  • Financial education expo for the work force, 15 May 2012, 8:00 a.m. to 5:00 p.m., Teatro Ilocandia, Mariano Marcos State University, Batac City;
  • “Be up to SPeed on BSP,” information campaign on the role of the BSP in the economy, 15 May 2012, 8:30 a.m. to 1:00 p.m., Majestic Hall, Java Hotel, Laoag City;
  • New Generation Currency briefing, 15 May 2012, 9:00 a.m. to 12:00 noon, Claro Hall, Max’s Restaurant;
  • Financial education expo for students and members of the academe, 16 May 2012, 8:00 a.m. to 5:00 p.m., Teatro Ilocandia, Mariano Marcos State University, Batac City;
  • “Paghahanda sa Kinabukasan” financial learning campaign for overseas Filipinos and their beneficiaries, 16 May 2012, 8:30 a.m. to 3:00 p.m., Majestic Hall, Java Hotel, Laoag City; and
  • Financial learning seminar for microfinance clients and the unbanked, 17 May 2012, 8:30 a.m. to 5:00 p.m., Palacio de Laoag, Laoag City.

1 See Annex  for the description of each program.

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