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.
This is a vote of confidence as it is the first time that the IFC is directly involved in our country as an investor or lender. All these initiatives are not in direct competition with the existing financial institutions, but are seen as complementary to the financial system.