THE Bangko Sentral ng Pilipinas (BSP) has formally forged a partnership with the Deutsche Bundesbank to enhance the skills of BSP personnel.

Through a memorandum of understanding (MoU) signed on Jan. 22, 2024, the central bank of the Federal Republic of Germany will provide training services, consultation, and advisory assistance for BSP personnel.

"For many years now, the Bundesbank has been the BSP's strategic partner and has been supporting the BSP's learning and development requirements through collaboration on technical programs, in-person seminars, online courses, and study visits on benchmarking," BSP Governor Eli Remolona Jr. said.

"These have greatly contributed to productivity enhancements. I am delighted we now have this MoU," he added.

For his part, Deutsche Bundesbank Executive Board Member Burkhard Balz anticipates more cooperation between his institution and the BSP.

Since 2004, Deutsche Bundesbank experts have been conducting capacity-building programs for BSP personnel, both in-person and virtually.

Recent programs include the in-person training on "Credit Assessment and Analysis in the Central Bank's Lending Operations" at the BSP Head Office in Manila in May, and the online training on "Payment and Securities Settlement Systems" in October of the previous year.

The MoU signing was witnessed by Deutsche Bundesbank Head of International Central Bank Dialogue Martin Dinkelborg and German Ambassador to the Philippines Dr. Andreas Michael Pfaffernoschke.

It was also attended by BSP's Monetary Board Members Benjamin Diokno, V. Bruce Tolentino, Anita Linda Aquino, Rosalia de Leon, and Romeo Bernardo, as well as Deputy Governors Chuchi Fonacier, Eduardo Bobier and Bernadette Romulo-Puyat.