Financial education and business development services training in Papua New Guinea

• Nov 1, 2018
• 1 min

ADB commissioned MSC to implement the Microfinance Expansion Project (MEP) in Papua New Guinea. MSC delivered training courses to address the low levels of financial literacy, business development, and management skills among clients and potential clients of MFIs. By the end of our involvement, about 390,000 households had active deposit accounts, while over 70,000 households had active loan accounts.

ADB commissioned MSC to implement the Microfinance Expansion Project (MEP) in Papua New Guinea. A key component of the project was Financial education (FE) and business development skills (BDS) training to clients and potential clients of MFIs. This and other components cumulatively addressed the low levels of financial literacy, business development, and management skills among clients. The MSC team delivered the training sessions under the brand name Centre for Excellence in Financial Inclusion (CEFI), which was set up under the project, as the apex body for financial inclusion in the country.

MSC provided financial education training to over 91,000 clients, of whom over 43,000 were women. By the end of our involvement in 2015, about 390,000 households had active deposit accounts as against the baseline of 187,500 households in 2010. Over 70,000 households had active loan accounts as against 43,000 households in 2010. MSC also targeted business development skills training for 15,000 clients, of whom 20% were women.