Regional and local development councils

WG Focus

Digital finance Digital infrastructure; DFS innovations; digital payment use cases

Financial literacy and consumer protection Financial and digital literacy programs for individuals and MSMEs; consumer protection and market conduct regulations and programs

Indicative list of members from the government32

BSP, SEC, IC, CDA, DICT, PSA, DILG, DOF, DBM, DOTr, DOLE

BSP, SEC, IC, CDA, PDIC, DepEd, DTI, OWWA, CFO, DA, DSWD

Other WG members

Providers (financial institutions, telcos, internet service providers, and similar sectors; and their industry associations)

Agriculture, MSME, and startup finance

Risk protection and safety nets Financial infrastructure development; guarantee and credit enhancement programs; agriculture value chain and supply chain finance Insurance, pension, and cash assistance government programs for the informal and vulnerable sectors

Communication Public awareness campaigns and stakeholder communication programs for the NSFI 2022-2028

Data and monitoring NSFI monitoring and evaluation framework data requirements DA, DAR, ACPC, DTI, SBC, DOST, PhilGuarantee, CIC, NEDA, BSP, SEC, DBP, LBP

DSWD, DOF, DOLE, NEDA, GSIS, SSS, PhilHealth, PCW, CFO, PCIC

BSP, DILG, DTI, PIA/PCOO, DepEd

PSA, BSP, SEC, IC, CDA, NEDA, PCW Consumers (consumer groups, civil society organizations, representatives of basic sectors, and the transacting public)

Supporting institutions (donors, development partners, academe, and think tanks)

Regional and local development councils

To localize the national strategy, the NSFI shall be adopted and monitored at the subnational level. Regional Development Councils (RDCs) and Local Development Councils (LDCs) shall be tapped to endorse national financial inclusion plans, programs, and projects proposed for granular implementation in the regions, provinces, cities, and municipalities.

Accordingly, financial inclusion shall be incorporated in the Regional Development Plans (RDPs) and Local Development Plans (LDPs), which serve as the blueprint of regional and local development consistent with national development planning. The appropriate issuance from the Office of the President shall be proposed to officially endorse the integration of financial inclusion initiatives in the RDPs and LDPs.

32 Please see Annex B for the list of FISC and non-FISC stakeholders from the government sector