The Philippine Space Agency (PhilSA) and the Bangko Sentral ng Pilipinas (BSP) have entered into a partnership to strengthen financial and economic analysis through the use of space science and technology applications, following the signing of a Memorandum of Agreement (MOA) on Jan. 27.
The agreement, signed by PhilSA director general Gay Jane P. Perez and BSP assistant governor Pia Bernadette R. Tayag, aims to integrate satellite data and geospatial tools into the central bank’s monitoring of climate, environmental, and socio-economic risks.
Under the partnership, space-derived information will be used to assess disaster impacts, evaluate environmental threats, and analyze their potential effects on inflation, financial stability, and economic resilience.
Perez said the collaboration highlights the shared responsibility of the space and financial sectors in promoting national stability.
“Space science and banking, or finance, may appear to operate in different domains, yet both are ultimately concerned with stability. Climate and environment-related risks increasingly affect economic activity, financial systems, and the welfare of communities,” she said.
“Understanding these risks and responding to them in a timely and informed manner depends on access to consistent, objective, and forward-looking information”.
As part of the agreement, PhilSA and BSP will jointly develop data systems that combine geospatial, climate, environmental, and socio-economic information into actionable financial intelligence.
They will also conduct research and training programs to strengthen the BSP’s capacity in using satellite data for risk assessment and policy analysis.
The partnership builds on earlier collaboration between the two agencies, including a joint geographic information system and remote sensing workshop held in April 2025.
Tayag said the agreement will help translate space-based information into practical decision-making tools.
“This MOA enables practical collaboration on how information will be shared and used. Space-derived observations such as satellite imagery can show where the hazards are emerging, which areas are most affected during extreme-weather events, and where economic impacts may be concentrated,” she said.
She added that this will support more timely and risk-responsive financial policies.
PhilSA will also provide technical expertise and standardized space-derived data to help BSP assess environmental hazards and their possible economic impacts, which will eventually be integrated into the central bank’s systems.
The MOA signing was attended by PhilSA deputy director general Denis F. Villorente and BSP Sustainability Office director Ellen Joyce L. Suficiencia.
