THE BANGKO SENTRAL ng Pilipinas (BSP) has inked a lease contract with the Bases Conversion and Development Authority (BCDA) for the central bank鈥檚 new complex that will soon rise in New Clark City.

The facility will be located at the national Government Administrative Center located in New Clark City, Capas, Tarlac.

The BSP and BCDA in September 2019 signed a memorandum of understanding for the project.

The complex will cover more than 300,000 square meters. Once built, the complex will be the site of the central bank鈥檚 production and distribution of currency; printing of secure products such as the national identification card and land title certificates; executive offices and administration buildings; green spaces and employee wellness areas; and a museum, among others.

鈥淭his new facility is intended to strengthen the strategic foothold of the BSP in the country鈥檚 key growth corridors, in pursuit of its mandates in the areas of currency and securities production and distribution,鈥 Mr. Diokno said at the virtual signing event on Wednesday.

鈥淭he BSP and BCDA affirm its shared commitment to promote efficient and effective governance by supporting the Government鈥檚 infrastructure program to decongest the National Capital Region and decentralize the delivery of public services,鈥 he added.

Based on the agreement, the BSP will lease the land on which its new complex will stand for a period of 50 years. The BSP will have the option to renew this for another 25 years upon agreement with the BCDA.聽

Mr. Diokno said the contract signing will be followed by procurement of the architectural and engineering design and the construction of the facilities which, he said, will be 鈥渕odern and eco-friendly鈥. 鈥 LWTN

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