Date: January 23, 2019
Source: Post Courier
More than two million people in the Pacific Islands region have benefited from the Pacific Financial Inclusion Program.
Pacific Financial Inclusion Program specialist Jagdeep Dahiya said since its roll out in 2009 they have been helping and assisting people to financial services. Mr Dahiya said they have received assistance from the private sector and other players who helped with financial inclusion.
He said they look at policies and currently they are working across six different Pacific Island countries on Policy level support as well as working on financial innovations.
“Financial innovations are a large part of our portfolio working initiatives were we help institutions to set up new systems, processes and try new products that meets the requirements of the people.
We use the institutions to do trials and testing so that more and more institutions are able to try something new and be more innovative which otherwise they will not be able to do because of the financial constraints,” he said.
Mr Dahiya said for PNG they are currently working with different TVET institutions to embed financial inclusion as part of their curriculum.
“So far we have actually developed the curriculum.
“We have done the pilot already in Goroka with Kamaliki which is a TVET institution.
“and now we are rolling it out to other TVET institutions.
“To start with, we have already started work with four other institutions in Eastern Highlands and now the pipeline is to work further on other TVET institutions.
In terms of financial innovations, there are a number of initiatives that we have worked in and it ranges from savings credit, remittances, insurance and pension. So there’s a range of products that we are working with on different areas,” he said.