PM urges ANZ to invest in micro-lending,banking

By PATRICK TALU
PRIME Minister Sir Michael Somare has urged the Australia & New Zealand Bank Group to create a micro-financing and banking scheme in Papua New Guinea to help the rural people.Sir Michael pointed out that this was the best way to protect and grow their savings.In his keynote address at a gala night last Friday to celebrate the 100th year of ANZ banking services in the country, he said: “I would like to encourage you to look at micro-financing and micro-banking so that you can extend your services by catering for developments taking place all around the country.”Sir Michael said this year the economy was anticipated to grow by about 8.5%, of which 3% would be attributed to construction activities at the liquefied natural gas project.He said all this prosperity was relevant to investors like ANZ Bank which is already one of the more profitable banks in PNG.“You have had a 100 years of experience in the country. “The people of PNG have supported the ANZ Bank all these years and will continue to do so as long as you are here.“I encourage ANZ to help rural people to protect and grow their savings.“I know that your investment will be invaluable to the communities … it will be challenging for you but I believe it will be worth it when you look back a few years from today,” Sir Michael said. The Prime Minister said with the combined experience of ANZ’s top management team in the Asia Pacific region, it can tap into that knowledge to extend services across the country.“With the technology that is available today, I am sure ANZ can provide innovative options to all its existing and potential customers.“Now, more than ever, is the time to reach out to the “unbanked” population of PNG and the Pacific,” Sir Micahel said.