Posted by:
Philippine Space Agency
30 January 2026
(L-R) PhilSA Deputy Director General for Space Operations, Infrastructure and Industry Denis F. Villorente; PhilSA Director General Gay Jane P. Perez, Ph.D.; BSP Assistant Governor Pia Bernadette R. Tayag; and BSP Sustainability Office Director Ellen Joyce L. Suficiencia sign the Memorandum of Agreement for Collaboration in Space Science and Technology Application.
The Philippine Space Agency (PhilSA) and the Bangko Sentral ng Pilipinas (BSP) have partnered to enhance economic and financial analysis through space science and technology applications (SSTA). This was formalized through the signing of a Memorandum of Agreement (MOA) by PhilSA Director General Gay Jane P. Perez, Ph.D. and BSP Assistant Governor Pia Bernadette R. Tayag on 27 January 2026.
This partnership supports BSP’s core mandates in monetary policy and financial supervision by applying space-derived data and geospatial tools. These space technologies help assess climate and environmental risks, evaluate disaster impacts, and monitor socio-economic factors. Through this, the BSP can enhance the nation’s financial stability and better anticipate risks that arise from climate change, including their effects on inflation and overall economic resilience.
PhilSA Director General Gay Jane P. Perez, Ph.D. delivers an encouraging message for the partnership to be grounded on strong data, informed policy, and coordinated action that aims towards a more resilient and sustainable future.
“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. Understanding these risks and responding to them in a timely and informed manner depends on access to consistent, objective, and forward-looking information. This is where space science and technology can add value,” PhilSA Director General Perez said.
Under the agreement, the two agencies will develop data systems and methods to integrate geospatial, climate, environmental, and socio-economic information into actionable financial intelligence. They will also conduct joint research and capacity-building programs to capacitate BSP personnel with the skills to use satellite data and geospatial analytics for financial risk assessment and policy analysis. This expands upon the foundational “Introduction to Geographic Information System and Remote Sensing” workshop that PhilSA jointly organized with BSP in April 2025.
BSP Assistant Governor Pia Bernadette R. Tayag explains how the PhilSA and BSP teams will identify priority use cases, capacity-build, and strengthen the pipeline of applications following the signing of the MOA.
“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. This supports a clear view of physical risk exposures that can strengthen timelier and risk-responsive decisions,” BSP Assistant Governor Tayag said.
PhilSA will also provide technical expertise and space-derived data to help identify environmental risks, assess hazards, and analyze possible impacts on the economy. Ultimately, this will be standardized and integrated into BSP systems.
Joining the signing were PhilSA Deputy Director General for Space Operations, Infrastructure and Industry Denis F. Villorente and BSP Sustainability Office Director Ellen Joyce L. Suficiencia.
Through this partnership, the unique vantage point of space will be harnessed to foster greater economic stability and resilience for the Philippines.
About PhilSA
The Philippine Space Agency (PhilSA) is the central government agency of the Philippines that plans, develops, and promotes the national space program in line with the Philippine Space Policy. Created in August 2019 under Republic Act No. 11363 (‘The Philippine Space Act’), PhilSA is an attached agency of the Office of the President of the Philippines for purposes of policy and program coordination and to ensure alignment in national policies and priorities.
About BSP
The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. It was established on 3 July 1993 pursuant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993. The BSP took over from Central Bank of Philippines, which was established on 3 January 1949, as the country’s central monetary authority. The BSP enjoys fiscal and administrative autonomy from the National Government in the pursuit of its mandated responsibilities.