Central Bank governors and representatives from financial institutions around the Pacific gathered in Kokopo, East New Britain for the 3rd annual Pacific Islands Regional Initiative Leaders Roundtable.
The two-day meeting is hosted by the Central Bank of Papua New Guinea and the Alliance for Financial Inclusion, based in Kuala Lumpur.
PIRI is a regional body created to better addresses the unique constraints to increasing financial inclusion in the Pacific.
In the meeting, discussions were centred on “de-risking” which has a huge impact on smaller pacific island countries that are remittance based, as it is also an impediment to increasing access to basic financial services in the Pacific.
Members of PIRI include the Central Banks of Fiji, Samoa, Solomon Islands, Vanuatu, Papua New Guinea, Timor Leste and Tonga.