Every country in Asia needs to rack their brains in order to build a sustainable economy after the Covid 19 pandemic. One of them is the Philippines. This country has been able to adapt well after the global pandemic, although it is not easy to implement the Philippines sustainable finance.
To realize this, of course, it requires many experts and reliable economists so that they are able to provide the best ideas and strategies for the Philippines global finances. This is also expected to be a long-term investment for the country’s economic prosperity.
The Important of Sustainable Finance Framework in The Philippines
All countries in the world have been negative affected by the Covid 19 pandemic. The Philippines is no exception. To cope with environmental and economic changes, the Philippines is proactively seeking solutions to these problems by promoting sustainable finance.
This is a long-term initiative by the Philippines to promote and support green banking in the country. BAP or The Banker’s Association of The Philippines is also always committed these activities to the end for a much better future for the Philippine economy.
Philippines sustainable finance can provide good benefits. For example, being able to minimize expenditure, cost-cutting and make the economy even more efficient. This will certainly have a good impact on the country.
Long Term Financial Perpective in The Philippines
The long-term financial perspective in the Philippines is carefully planned using a roadmap. The project contains various principles needed to develop the Philippines economy that is environmentally friendly and sustainable.
The determination of the Philippines sustainable finance roadmap is certain to be able to provide benefits for both the public and private sectors. So, there is no limit for one sector only. Thus, it will be easy for all sectors to get information from the government.
For example, financial or fiscal policies and the rearrangement of certain tax rates. These two things are very important to prevent economic problems. It is hoped that all sectors of the sector will be able to work well together for the sake of brilliant financial sustainable.
The Important Role of E-Money and Online Transactions for Sustainable Finance
One of the manifestations realized by the Philippines to support sustainable finance by implementing the use of e-money and other online transactions. This is a manifestation of the very good idea of the Philippines sustainable center bank finance, even the idea is considered a financially brilliant idea.
The use of e-money has become a very popular trend in addition to cash transactions. This is evident from the data in the YCP Solidance white paper, namely an increase in e-money transactions reaching 36%, both in terms on inflow, outflow and use.
It is predicted that the use of e-money can continue to increase from year to year. Especially considering that paperless transactions are very friendly to the environment. Transactions are also much safer and more convenient with e-money. This is also included in the sustainable finance market Philippines.
Optimizing the Philippines sustainable finance requires cooperation and hard work from various sectors, both private and public. With good work, all the economic ideals can be much better. It’s not imposibble to escape the impact of a pandemic like today.