Minister for Trade, Commerce and Industry, Wera Mori, said this today during the opening of the Financial Inclusion Summit in Port Moresby.
Minister Mori said the Governments focus over the last five years in providing funding directly to the rural areas will have a positive impact on financial inclusion in the long run.
“Majority of our population reside in the rural areas and are deprived of facilities due to the poor infrastructure and communication.
“Our Governments focus on rebuilding infrastructure, focus on rural areas and development of districts, capacity building at the provincial level will go a long way in promoting financial inclusion,” Mori said.
He added the initiative follows from the financial service sector review carried out by the World Bank and the Bank of PNG.
Addressing the findings from the review, which identified financial inclusion as a key pillar for development, they have begun implementing measures which include education and inclusive growth.
Minister Mori told participants at the summit that the government looked forward to the results from their discussions and will be on hand to support them.