Based on the BSP's financial statement for 2023 submitted to COA, the central bank's Monetary Board (MB) had approved the award of five contracts for the supply of materials and the actual production of polymer bills in P1,000, P500, P100 and P50 denominations, under the so-called "New Generation Currency Banknotes" project.
The COA incorporated the financial statement in its 2023 annual audit report on the BSP.
The breakdown showed that one contract worth €4.432 million, equivalent to P269.028 million, was awarded to French company Surys, for the supply and delivery of 3,040 rolls of "optically variable device patch" to be used for the production of the P1,000 polymer bills.
Germany-based Papierfabrik Louisenthal GmbH, a leading manufacturer of banknotes and security-protected papers, meanwhile, bagged the biggest contracts totaling P3.718 billion.
This story is from the December 25, 2024 edition of The Philippine Star.
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This story is from the December 25, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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