MANILA — The Bangko Sentral ng Pilipinas said on Thursday it signed a deal with the Technical Education and Skills Development Authority (TESDA) and BDO Foundation (BDOF) for the development of free online courses on personal finance.
In a statement, the central bank said the memorandum of agreement (MOA) aims to boost the financial health of some 4 million learners of technical and vocational skills.
A Financial Literacy Course will be available to TESDA learners and the general public via the TESDA Online Program by 2024, the central bank said.
Topics in the course include financial planning, saving and budgeting, debt and investment management, digital financial literacy, and consumer protection, it added.
“The BSP recognizes the vital role of TVET (technical-vocational education and training) learners whether they decide to pursue employment or entrepreneurship here or abroad... We empower them to take charge of their own personal and financial growth," BSP Gov. Felipe Medalla said.
“Sustainable public-private partnerships are instrumental in developing more financial education programs that are free, effective, accessible, interactive, and scalable. This greatly expands the reach of our financial inclusion efforts,” he added.
Meanwhile, TESDA Director General Danilo Cruz said this would enable the learners to make sound financial decisions.
The BSP said the MOA was signed in March 2023.