BPNG announces end of country’s microfiance expansion project

BANK of Papua New Guinea has recently announced that the country’s microfinance expansion project which started in 2010 has ceased operations on June 30.
Governor Loi Bakani said in a statement that the Papua New Guinea Microfinance Expansion project number 44304.1, Loan 2686/Grant 0226 and 0425 which was under their supervision had ceased operations.
“The bank would like to thank the financiers of the project including the Asian Development Bank (ADB) and the governments of Australia and PNG, and partner financial institutions,” he said.
“The bank also acknowledges the support of financial institutions, national and international non-government organisation, community based organisations, faith-based organisations, private institutions and the public on the successful implementation of the project. We urge the public to contact the Centre for Excellence in Financial Inclusion (Cefi) if you require any further information on the project’s activities and related matters.”