Business News

Bank of PNG launches Centre for Excellence in Financial Inclusion

The Bank of Papua New Guinealaunched its Centre for Excellence in Financial inclusion.

Prime Minister Peter O’Neill saidthe opening ofthe Centre andthe services to be provided will complementthe government’s efforts to financially empower Papua New Guineas.

The launch took place atthe Crown Plaza Hotel inthe presence of financial institution representatives, bureaucrats, development partners and members of parliament.

Prime Minister O’Neill, in his key note address commendedthe Bank oPNG and its co-financers for an initiative that complementsthe government’s push to promoting financial service delivery tothe rural population.

The government last year, launchedthe SME Stimulus GrowthInitiative, through a K130million budget allocation and this year over K80million has been put towards SME empowerment. The goal here is to bring as many rural dwellers intothe financial sector, one that is very much embedded inthe goal ofthe financial inclusion centre.

The Centre will stand as a coordination agency.

Treasure Don Polye’said despitethe inevitable challenges, having faith as an individual isthe way forward in achievingthe goal of a financially educated population with access to services provided.

The Asia Development Bank has provided 30 million US Dollars towardsthe establishment ofthe centre, while Ausaid 56million US Dollars andthe governmento3.08 million US dollars.

Festus Maiginap, National EMTV News

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