Papua New Guinea: Microfinance Expansion Project | Asian Development Bank

Papua New Guinea: Microfinance Expansion Project

Publication | April 2016
Papua New Guinea: Microfinance Expansion Project

An ADB project in Papua New Guinea supports a financial literacy training program which will deliver financial education to more than 130,000 people in some of the most remote and inaccessible areas of the country by 2018.

In Papua New Guinea, 85% of its population live in rural areas, a large proportion of whom have very limited school education and have low literacy and numeracy rates. Most people have also never banked with a financial institution. ADB is increasing access to financial services in remote and rural areas in Papua New Guinea through its Microfinance Expansion Project, which is cofinanced by the governments of Australia and Papua New Guinea.

A key focus of the project is to improve financial literacy to ensure people have the capability to manage their money wisely and understand how to use financial services. This booklet details the project’s many achievements, via beneficiaries whose lives have been transformed by the project.