26 C
Port Moresby
March 4, 2021
Business

ANZ Bank and Exxon Mobil SignAgreement

Share the News
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

World Bank and Department of Finance Work to Strengthen PNG Accounting and Auditing

EMTV Online

Oil Search wins 2018 Platts Global Energy Award for its Response in Deadly 7.5 Earthquake in PNG Highlands

EMTV Online

SME Growth in PNG is Vital for Economy

EMTV Online
error: Content is protected !!