Depending on how much climate risks can affect financial stability and the implementation of monetary policy, they need to be considered and taken into account when defining our operational frameworks. Since climate change knows of no boundaries, international coordination is crucial for advancing this process. Global coordination enables exchange of experience, and the diversity of views and inclusiveness lend creditability to proposals and decisions.
In line with the Project’s scope of work, the establishment of the microfinance institutions (MFIs) is a relief that, at last, there is now in place a kind of financial institution with which they can save. The progress todate of the Wau Microbank in Morobe and the PNG Microfinance Limited in Port Moresby can attest to this development.