In our endeavours to bring out financial services to these sectors, the Bank of Papua New Guinea in collaboration with the Asian Development Bank, the National Government and AusAid established the “Wau Microbank” under the micro finance project. 2  BIS Review 37/2006  The pilot project is slowly growing into a viable complementary player in the development of the financial system.
In addition, the PNG Micro Finance Limited, which obtained a banking license in 2004, and has operations in NCD, Western and Oro Province. The micro-finance industry development is a meaningful way of mobilizing savings and servicing a large section of the community to whom financial facilities are not readily available.