ADB backs financial training

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THE Asian Development Bank’s (ADB) ongoing microfinance and employment project is supporting a programme of financial literacy training and village banking, carried out by Bogia Co-operative Society (BCS) and Nationwide Microbank in Madang province.
Under the programme, financial education “training of trainers” has been provided to candidates from BCS which now offers financial education to members in the rural areas of Madang.
A statement from ADB said that in addition, savings and microfinance lending services were provided by the co-operative, in partnership with Nationwide Microbank.
Last Thursday, ADB’s private sector development specialist Jeremy Cleaver, AusAID’s Christine Groeger and Bank of Papua New Guinea (BPNG) deputy governor Loi Bakani visited several of BCS’s community development cntres (CDCs) and witnessed the graduation of some 500 participants in the financial literacy training.
Participants travelled from across rural Madang province to attend the ceremony which was also attended by representatives from the Treasury Department.