The nation’s economic agency is partnering with the Bangsamoro’s development group to improve the projects and programs in the region.

The National Economic and Development Authority (NEDA) signed a memorandum of agreement with the Bangsamoro Planning and Development Authority (BPDA) to aid the region in creating a capacity development program on impact evaluation.

It aims to improve BPDA's ability to assess local service delivery within the Bangsamoro region focusing on attribution in project or program evaluation to ensure that interventions contribute to the region’s developmental goals.

NEDA will provide technical training to BPDA personnel on impact evaluation principles, theories, designs, tools, and methodologies to enhance their preparation, design, and management skills for such evaluations.

“The agreement we are signing today transcends a mere document. It paves the way for learning, sharing, and collaboration among M&E [monitoring and evaluation] practitioners. It equips our institutions with the necessary skills and experience to conduct rigorous impact evaluation studies that will directly benefit our community,” NEDA Secretary Arsenio M. Balisacan said.

NEDA and BPDA are also collaborating on the design and execution of impact evaluation studies on selected BARMM programs and projects, which will be instrumental in policy decisions and the creation of new projects within the region.

Balisacan said that this partnership, which is slated to run for 15 months, will facilitate the effective implementation of both the second Bangsamoro Development Plan 2023-2028 and the country's medium-term plan.

“The capacity development program we are undertaking goes beyond simply enhancing our internal skills and knowledge but will also empower us to co-create solutions," Bangsamoro Director General Mohajirin T. Ali of the BPDA said.

"It is a commitment to nurturing a culture of accountability and transparency within our institutions, strengthening the foundations of trust upon which effective governance rests,” he further said.

Queen of Netherlands discusses financial innovations in PH

Balisacan had also met with Her Majesty Queen Máxima of the Netherlands, who also serves as the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development, to discuss innovations on financial inclusion challenges in the country

The meeting focused on issues such as identity authentication, enhancements to digital payment schemes, and developments in the Philippines’ preliminary efforts in open finance.

Open finance is a concept that involves the sharing of customer-authorized data among financial institutions and third-party providers.

It empowers customers to access their data and reduces information asymmetry between financial service providers (FSPs) and customers, as well as among different types of FSPs and is designed with a strong emphasis on user privacy, secure data handling, and inclusivity.

The central bank, in collaboration with the Japan International Cooperation Agency, developed a credit risk database scoring model that will boost lenders’ confidence in financing the country’s small and medium-sized enterprises.

Last year, it also initiated the PH Open Finance Pilot to develop technical and operational standards for an open finance ecosystem in the Philippines.

Queen Máxima, a trained economist who previously worked in finance and markets, is known to collaborate with public and private sectors globally to raise awareness of financial inclusion and support country leaders in improving their economies through innovative business models.