26 C
Port Moresby
November 22, 2019
Business

ANZ Bank and Exxon Mobil SignAgreement

ANZ Bank and Papua New Guinea’s multibillion kina LNG developer, ExxonMobil, today signed an agreement to have a mini bank established in the LNG development site of Para village, situated in the Hides area of the newly recognised Hela Province.

The new kind of branch called a “bank tainer”, which is basically a 40 foot container, will be situated in the main PNG LNG project compound.

 

ExxonMobil indicted that the initiative is actually to help some of the land owner groups bank their royalties and put the money into the formal sector.

 

It is understood that the bank should be up and running in a couple of months’ time.

 

Meanwhile, ExxonMobil has been conducting community outreach programs in the project impact areas of the highlands to get the people educated of basic literacy; and business management skills so that landowners can be able to save or invest their money in businesses and stock markets.

Related posts

Strong China-PNG diplomatic and economic cooperation revealed

Meriba Tulo

De La Salle Students Graduate From ‘Know A Business’ Program

EMTV Online

K2.6 Million for Gumine’s SME Funds

Adelaide Sirox Kari
error: Content is protected !!