Bank ends financial literacy training

 THE Bank of South Pacific has 52 financial education trainers following the completion of training for 13 in Lae last Friday.

The microfinance expansion project is supported by the Asian Development Bank and Australian Agency for International Development Aid with the Central Bank of Papua New Guinea as the executing agency.

The aim is to extend financial services into the rural areas where an estimated 85 per cent of people do not have access to financial services.

Deputy Governor of Bank of Papua New Guinea Benny Popoitai thanked BSP for coming on board and using its rural banking programme.

“This project is a major achievement for BSP and ourselves (Bank of PNG). We hope this will continue, this project we have centered on financial inclusion,” he said.

“We need to rollout this project so that people understand and take advantage.”

Microfinance expansion project manager Jacob Gop said an estimated 85 per cent of the population did not have access to financial services.

The financial literacy training is one of the biggest in the microfinance expansion project with a target of 120,000 people of which 40 per cent are women.

“The project has partnered with BSP to deliver financial education trainings for all BSP clients and potential clients covering the four regions of PNG,” Gop said.