Manila, June 9, 2021 – On June 9, U.S. Embassy Chargé d’Affaires John Law, representing the Philippine-American Educational Foundation (PAEF), and Bangko Sentral ng Pilipinas (BSP) Governor Dr. Benjamin Diokno signed a Memorandum of Understanding (MOU) to enhance cooperation in education, research, and training. This is the first partnership between PAEF, also known as the “Fulbright Commission,” and BSP.
In celebration of the signing, Chargé d’Affaires Law explained, “Our hope is that this MOU is just the beginning of a growing partnership between the United States and BSP.” He added, “One of our most important endeavors here in the Philippines is partnering on human capital development.”
During his remarks, Governor Diokno noted, “A Memorandum of Understanding on educational exchanges and trainings with the Philippine-American Educational Foundation – Fulbright is envisioned to promote the BSP’s thrust to improve the legal, scientific and technical capabilities of its officials and staff working in the central banking through the grant of scholarships and training programs and for facilitating educational exchanges under the BSP’s capacity-building and research initiatives.” He concluded, “May this mark the beginning of a long and productive and collegial relationship towards building a body of high-quality research for our institutions and for the nation.”
The new MOU establishes a general framework for facilitating the grant of scholarships and training programs, as well as facilitating educational exchanges under the BSP’s capacity-building and research initiatives.
The U.S. government and BSP have partnered on several projects, including a collaboration between U.S. Treasury advisors and BSP staff to strengthen the central bank’s financial stability framework and establish a residential real estate index. The U.S. Agency for International Development also has collaborated with BSP to expand the use of e-payments throughout the country.
Founded in 1948, PAEF is the longest-continuously-running Fulbright education exchange program in the world. In addition to offering academic and research programs for students, academic faculty, and mid-career professionals, PAEF supports Philippine government agencies for staff development.
For more information regarding Fulbright exchange opportunities, please visit: www.fulbright.org.ph.