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Bloomberg
Congestion and constant flooding in the Philippine capital are prompting the central bank to move its mint away from the city. Bangko Sentral ng Pilipinas signed a deal to relocate its production facility for coins and bank notes to New Clark City, a former US air base where the government is building a back-up capital.
“We will build facilities here so that in case of calamity, we have a continuity plan. If anything happens in Manila, we can always use these facilities,†Governor Benjamin Diokno said.
The new facility, which will also print land titles and national IDs, will have a solar farm, as well as a moat and natural tree buffer to boost security. The first phase is due to be complete in four years.
At present, currency is produced in a four-decade-old complex in Quezon City, part of the capital region.