July 26, 2018
Mt Hagen, Papua New Guinea – Western Highlands Provincial Administration (WHPA) and the United Nation’s Pacific Financial Inclusion Programme (PFIP) have formalised a partnership that will see financial education (FinEd) embedded into the curriculum of four Technical and Vocational Education Training Centres (TVET).
FinEd is learning aimed at building skills and knowledge whilst changing behaviours relating to money and its management.
The FinEd Curriculum Development Project will run from 1st July 2018 to 31 December 2019 and is PFIP’s fifth partnership within its regional FinEd portfolio. The partnership with the WHPA will involve the integration and strengthening of FinEd within the curriculum for the provincial government-run TVET institutions comprised of:
PFIP, will provide technical assistance to WHPA to embed FinEd within selected trade courses, develop the learning framework together with student and teacher resources and assist with the introduction of FinEd into classroom teaching across the four TVET institutions. During the course of the partnership, PFIP will provide ongoing guidance to WHPA to ensure sustainable implementation at the school-level.
Work has already begun on the development of the curriculum, teacher handbooks and student’s manuals. The first round of teacher familiarisation and training will begin in August, with the understanding that teaching and learning will be fully implemented in the curriculum of all 4 institutions from 2019.
While endorsing the partnership, Provincial Administrator Joseph Neng said “the partnership would help to achieve the aspirations of our people, allowing them to interact positively with the formal financial system and giving them economically meaningful lives.”
Funded by the European Union, the FinEd initiative is a result of the 2020 Money Pacific Goals endorsed by Papua New Guinea in 2009 and Maya Declaration commitments made in 2013. Financial Education and Financial Literacy are joint national priority areas identified within the National Financial Inclusion Strategy 2016-2020 launched by the Bank of Papua New Guinea in December 2016.
In Papua New Guinea, PFIP is also working with Kamaliki TVET Institute in the Eastern Highlands Province impacting on 1,000 students annually. These students are graduating with personal money management skills, which in time will also have a positive impact on their families and communities.
PFIP is a Pacific-wide programme that has helped 1.9 million low-income Pacific islanders gain access to financial services and financial education. It achieves these results by funding innovation with financial services and delivery channels, supporting policy and regulatory initiatives, and empowering consumers.
PFIP operates from the UNDP Pacific Office in Suva, Fiji and has offices in Papua New Guinea, Samoa and Solomon Islands. It is jointly administered by the UN Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP) and receives funding from the Australian Government, the European Union and the New Zealand Government.