PM: Bank has key role in economic growth

 WESTPAC Bank will play an increasingly important role in Papua New Guinea’s economic growth and infrastructure expansion, Prime Minister Peter O’Neill (pictured) says.

He said that after meeting with Westpac’s institutional bank chief executive officer Rob Whitfield on Wednesday to discuss PNG’s economy, infrastructure development projects and financial inclusion programmes.

“Westpac was the first bank to operate in Papua New Guinea and through the ongoing consolidation of its operations here, will continue to be an important financial sector partner for the Government,” O’Neill said.

“We discussed Papua New Guinea’s recent and ongoing economic growth, and the ways Westpac can further participate in this development.

“Westpac is interested in working with the Government in developing major infrastructure, and partnering in programmes such as the construction of housing for public service employees.”

O’Neill said the National Government appreciates Westpac’s engagement in development programmes, as well as its commitment to educational initiatives 

and business facilitation throughout the country over the past 105 years.

“Westpac has an active mentoring role that is encouraging local businesses to benefit from the opportunities presented by the Asian century,” he said.