25 C
Port Moresby
July 10, 2020
Business Finance News

‘Mama Bank Access Point’ Bringing Banking Closer to Rural Communities

Women’s Micro Bank will be rolling out six bank access point in PNG using a biometric system to the rural communities such as Kikori in the Gulf Province.

This pilot project is initiated by Pacific Financial Inclusion Program and supported by the Australian Aid, European Union, New Zealand Government, UNCDF and UNDP with a total investment of K1.5 million.

This service was launched today in Port Moresby to make banking access easier for Women’s Micro Bank clients.

There are currently 20,000 women and girls who bank with Women’s Micro Bank. A good number of these women are from the rural areas that travel to Port Moresby to access the bank.

Today, the bank has launched a milestone pilot project using a biometric system; they will be bringing the bank closer to many rural communities under the new project of Mama Bank Access Point.

The project is said to reduce identification problems that many banks today face and will also open doors for new clients.

The Australian Government, which has been supporting women empowerment to forester PNG economic Development, expressed its continuous support to similar projects in the future.

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