BPNG expands currency distribution
“Bringing Banking Services to the People” was the theme of the Ground Breaking Ceremony for the Cash Distribution Facility (CDF) that will be built in Lae, Morobe Province.
Bank of Papua New Guinea Governor Loi Bakani CMG, said the Bank has decided to have a branch outside of Port Moresby to bring currency services and other services provided by the Central Bank to clients in Lae and other provinces in the Momase, New Guinea Islands and Highlands regions.
Governor Bakani said the Facility will also provide other services like financial awareness, research, financial inclusion programs.
The ground-breaking ceremony marks three years of planning and designing by the Bank of PNG and Beacon Consulting, and relevant stakeholders including the Physical Planning board, the building board, Works Department, Eda Ranu and PNG Power in Lae.
Morobe Governor Kelly Naru expressed his gratitude by thanking the Bank for choosing Lae and the Morobe province to establish the CDF and also for having the confidence in the province.
The Cash Distribution Facility is expected to be completed in 2018 and Project Manager from Beacon Consulting Mr Greg McDonald says piling work on the building will start within two weeks.
Kina exchange rate (MIDRATE)