PNG’s Kamit on how to reap benefits of microfinance
To work effectively, microfinance development and financial literacy need to be undertaken together, said Wilson Kamit, the governor of the Bank of Papua New Guinea.
Kamit said that the nature of the global crisis showed the importance of dealing with these issues, even in industrialised countries. He also said that financial literacy programmes led to financial inclusion which improved the lifestyles of those engaged in it and helped reduce poverty.
The governor made the comments on 14 May.
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