Press Releases

Exploring the Potential of Microinsurance in the Pacific

Exploring the Potential of Microinsurance in the Pacific

July 16, 2009

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Poor people can rapidly slide further into poverty after an unexpected event like the death of a breadwinner, a flood that destroys the farm or a drought that kills the livestock. Microinsurance, which is insurance designed for the poor, can help prevent these families from sliding further into poverty. Different elements of microinsurance and how...

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Cutting Costs on Sending Remittances to the Pacific

Cutting Costs on Sending Remittances to the Pacific

July 16, 2009

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Pacific Islanders working in New Zealand and Australia can now spend less to send money home. Up to a quarter of money sent as remittance is usually lost due to fees and exchange rates. Reducing the cost of sending remittances to Pacific Island countries and its impact on New Zealand’s seasonal workers was discussed at...

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Survey Finds Financial Literacy Leads to Better Off Households

Survey Finds Financial Literacy Leads to Better Off Households

July 15, 2009

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A survey in rural Fiji shows that people who received training on managing money and who have bank accounts, are better able to manage their funds and their households are better off. The survey was conducted in 2007 amongst 400 villagers from 14 villages in the Naitasiri Province. The objective was to measure the impact...

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PFIP Work in Microfinance Recognised

PFIP Work in Microfinance Recognised

July 14, 2009

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The Australian Parliamentary Secretary for International Development Assistance, Hon Bob McMullan MP today recognised the work done by the Pacific Financial Inclusion Programme (PFIP) in the area of microfinance. Speaking to delegates via a video address at the Pacific Microfinance Week that started in Nadi yesterday, Hon McMullan MP said that Australian Government’s Aid Programme...

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Technology Making Microfinance More Accessible

Technology Making Microfinance More Accessible

July 14, 2009

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Using mobile phones to buy electricity, accessing banking services through Electronic Funds Transfer at Point of Sale (EFTPOS) units and bank cards to transfer remittances are some examples of how technology can bring financial services to remote areas of the Pacific. The experience from the implementation of these systems, which are already in place in...

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