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NEDA 7 briefs bank officials on Central Visayas economy

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Officers of Bank of the Philippine Islands (BPI) were given a briefing on the regional economy of Central Visayas last 04 July 2019 at the NEDA Regional Office (NRO) 7 Conference Room.

NRO 7 Regional Director Efren Carreon, OIC-ARD Maria Teresa Alambra and PDIPBD Chief Lorna Manila facilitated the briefing for BPI, which visited the NRO 7 as part of its efforts to find ways on how financial institutions can help support the government’s 2017-2022 Philippine Development Plan and attain the AmBisyon Natin 2040.

Bank officers are also conducting regular rounds in government institutions in the regions to coordinate on how they can extend services to marginalized sectors and to people who are considered underbanked.

RD Carreon presented Central Visayas’s key economic drivers, noting that BPI and other financial institutions can benefit from the gains in the Tourism, Construction and IT/BPM sectors, as the growth experienced in these sectors could translate to more revenues that could crate more economic activities.

RD Carreon also informed the group that stakeholders in the region are working hard to sustain the growth momentum in Central Visayas, pegged at around 7.5% GRDP growth e the power supply and demand in the region is being monitored, stakeholders are working with the Department of Energy in crafting the Energy Development Plan for Visayas.

Also discussed during the presentation were updates on major infrastructure projects in the region and the outlook for the rest of 2019.rate in the last six years, to attain the collective aspirations laid out in the AmBisyon Natin 2040.

“We are optimistic that as long as there are no major negative intervening factors, we are on track to achieve positive growth,” RD Carreon said.

He also assured that while the power supply and demand in the region is being monitored, stakeholders are working with the Department of Energy in crafting the Energy Development Plan for Visayas.

Also discussed during the presentation were updates on major infrastructure projects in the region and the outlook for the rest of 2019.

BPI, for its part, shared with NRO 7 officials its plan to look for opportunities on improving the payment system in the region to include those who are yet unbanked. They also assured to continue including in the bank’s portfolio the services they provide to MSMEs.