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Manila Bulletin devider Business devider Banking & Finance devider BSP to launch World Bank-backed wealth literacy plan

BSP to launch World Bank-backed wealth literacy plan

Published May 14, 2026 03:27 pm
The Bangko Sentral ng Pilipinas (BSP) is moving to finalize a World Bank-backed roadmap for financial education this year, seeking to bolster the savings and investment habits of Filipinos as the country pursues deeper economic inclusion.
In a May 14 statement, the BSP said the central bank is leading the development of the National Strategy for Financial Education (NSFE) that aims to provide a structured approach to financial literacy.
According to the BSP, the NSFE envisions a future where “individuals and families have the knowledge, confidence, and resilience to make sound financial decisions through accessible and effective financial education programs.”
The NSFE has received international support, including technical assistance from the World Bank and input from the Foreign, Commonwealth & Development Office (FCDO).
This roadmap is set to become an important component of the broader National Strategy for Financial Inclusion 2022–2028 (NSFI).
As of the writing, the road map development is being refined through extensive consultations with various sectors.
On May 13, the BSP convened a major assembly at its Manila headquarters, bringing together government agencies, private sector partners, civil society organizations, and development institutions.
Stressing the importance of practical, real-world expertise, BSP Deputy Governor Bernadette Romulo-Puyat said that the strategy’s success depends on collective action.
“No amount of research can replace the insights of those doing the work on the ground. That is why consultations matter. A national strategy only becomes meaningful when government, industry, civil society, and development partners work together to make it succeed. That is when it becomes more than a document,” Romulo-Puyat said.
Once stakeholder feedback is consolidated and analyzed, the strategy will be endorsed to the Financial Inclusion Steering Committee (FISC)—a body composed of various government agencies—for final approval. (Derco Rosal)

Related Tags

financial education financial inclusion Bangko Sentral ng Pilipinas (BSP) World Bank
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