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June 23, 2024

BSP and Queen Maxima champion financial inclusion in Rizal province

The Bangko Sentral ng Pilipinas (BSP) has accompanied Queen Máxima of the Netherlands, the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA), on a series of field visits in Rizal province on May 21, 2024.

“The BSP is honored to have been a part of this initiative that highlights the importance of financial inclusion and financial health in promoting economic growth and improving the lives of individuals in underserved communities,” BSP Deputy Governor Bernadette Romulo-Puyat said.

Queen Máxima engaged directly with members of a local fishing community on Talim Island, witnessing firsthand the positive impact of digital financial services provided by a microfinance-oriented rural bank on their income and financial well-being.

This rural bank, in close collaboration with an insurance company, offers tailored products and services aimed at meeting the unique needs of underserved communities.

During her visit, Queen Máxima underscored the importance of access to credit and a wide array of insurance options in maintaining the economic stability and progress of the residents.

Queen Máxima also explored GrowSari, a digital platform that provides affordable loans, fast delivery of inventory, and services, such as bill payments, ticket purchases, and mobile phone top-ups.