A pilot micro-bank which was launched in Wau, Morobe province, in 2004 has shown strong signs of growth by expanding its operations into the city of Lae after one year of commencement. This venture is technically owned by the PNG Institute of Banking and Business.
Just recently, we issued a licence to the Papua New Guinea Micro Finance Company Limited, which is owned by Papua New Guinea Sustainable Development Program Limited, the Bank South Pacific Limited and the International Finance Company (IFC), the investment arm of the World Bank.