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Special Issue of 20-Piso Banknotes Celebrates UN Year of Microcredit

12.01.2004

The Philippines joined the world community in the simultaneous November launching of the UN Year of Microcredit in ceremonies led by Vice President Noli de Castro in Malacañang.  To commemorate the event, Bangko Sentral ng Pilipinas issued 10 million pieces of 20-Piso banknotes overprinted with the event logo and the tagline “Sustainable Microfinance Services for the Filipino Entrepreneurial Poor.”  Shown presenting the first set of banknotes to the VP are (from right): BSP Deputy Governor Armando L. Suratos, Monetary Board members Juan Quintos, Jr., Melito S. Salazar,Jr.,  and Antonino L. Alindogan,Jr. Looking on (from left) are Finance Secretary and Monetary Board Member Juanita D. Amatong;  UNDP Resident Representative Deborah Landey; and Secretary Imelda Nicolas, Lead Convenor of the National Anti-Poverty Commission. Microfinance is a key component of the poverty reduction program of President Gloria Macapagal-Arroyo.