CDA and BSP Collaborate on Piso Caravan for Region VIII Cooperatives

Cooperative Development Authority Region VIII Office, in collaboration with Bangko  Sentral ng Pilipinas Visayas Regional Office (BSP -VRO) conducted series of CDA –BSP Partnership Webinar on BSP Piso Caravan to the cooperatives in Tacloban City and Leyte Province. The initiative took place in two (2) batches during March 2024. The activity was attended by Fifty-four (54) cooperatives targeting the cooperative officers, managers, cash handlers and other staff involved in financial transactions. The webinar aims to strengthen the implementation of the BSP Clean Note and Coin Policy and Coin Recirculation Program.

The dynamic Regional Director of CDA Region VIII, Dir. Venus M. Jornales welcomed the partners from BSP, the different cooperative leaders and officers and other participants of the cooperatives sector. She mentioned that the partnership webinar is an advocacy of the BSP in collaboration with CDA with the cooperative sector as potential Currency Exchange Partners (CEPs). She also extended her appreciation to the BSP for always considering CDA as a partner in the advocacy program of their office.

In the first batch of the webinar, Ms. Erma L. Lagarto, Regional Economic Affairs Staff of the BSP -VRO, delivered a presentation on the BSP Piso Caravan Concept Note. This initiative focuses on addressing the issue of unfit currencies in circulation by implementing strategies to siphon them out. Additionally, it aims to stimulate the recirculation of coins in various regions through collaborative efforts and partnerships. The activity also underscores the active participation of individuals in advocating for the maintenance and preservation of the integrity of the Philippine currency.

During the second batch of the orientation, Dr. Gregorio E. Baccay, III facilitated discussions that were highly productive. He engaged with participants by addressing their questions and sharing insights drawn from his own experiences. This interactive session provided valuable information and perspectives to the cooperatives.

CDA Region VIII expressed gratitude to the Bangko Sentral ng Pilipinas (BSP) for consistently collaborating with them on various programs and services, particularly those aimed at benefiting the cooperative sector and the public. The webinar concluded with a closing message from Dr. Gregorio E. Baccay, III, Head of the BSP Regional Economic Affairs Staff. Dr. Baccay expressed gratitude for the opportunity to share BSP’s mandate and initiatives, especially in Region VIII, through cooperative platforms. This demonstrates the importance of partnership and collaboration between government agencies like CDA and BSP in serving the community and advancing their respective mandates.