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Financial education in PNG, key to informative choices on pay-day lending

Many low-income working families in PNG struggle to manage everyday cash flow. A lack of savings to buffer against financial woes, such as emergency medical bills, traditional obligations, such as burials and other unexpected life expenses can drive families to resort to these moneylenders. Over time borrowers find it hard to break out of the recurring cycle of pay-day lending, often referred to as a loan trap.

Financial education curriculum to be scaled across Anglican church’s vocational centres in Solomon Islands

Honiara, Solomon Islands – Following the successful piloting of financial education (FinEd) curricula in the coursework of three rural training centres (RTCs), the Anglican Church of Melanesia (ACoM) has announced the extension of FinEd across all its centres in Solomon Islands, a move that is expected to impact close to 800 tertiary students annually. Funded...

Financial education supports Garanga community to bring back life into its school canteen

Motivated to do something about the high cost of banking, a group of tertiary teachers and students of the Anglican Church of Melanesia’s Garanga Rural Training Centre (RTC) got together to start a savings club. Their inspiration for the savings club was born out of their learnings from an Australian Government funded – Pacific Financial Inclusion Programme (PFIP) financial education (FinEd) curriculum recently introduced at the school.

MoneyMinded, ANZ Bank’s financial literacy programme is set to be expanded to 10,000 i-Kiribati living in rural islands thanks to a new partnership announced today.   Through New Zealand Government funding and technical assistance from the Pacific Financial Inclusion Programme (PFIP), ANZ will be able to expand the reach of the program beyond the two...

PACIFIC Financial Inclusion Programme (PFIP) is working with technical vocational educational training (TVET) institutions to have financial education included in their curriculum. PFIP specialist Jagdeep Dahiya said it was determined to ensure people were financially literate to improve their economic lives. “We have different TVET institutions to embed financial education as part of their curriculum,”...