| Project Detail |
Project Name Preparing the Improving Financial Access and Entrepreneurship Development Project Project Number 53097-002 Country Papua New Guinea Project Status Active Project Type / Modality of Assistance Technical Assistance Source of Funding / Amount TA 9972-PNG: Preparing the Improving Financial Access and Entrepreneurship Development Project Technical Assistance Special Fund US$ 750,000.00 Strategic Agendas Inclusive economic growth Drivers of Change Gender Equity and Mainstreaming Governance and capacity development Knowledge solutions Partnerships Private sector development Sector / Subsector Finance / Banking systems and nonbank financial institutions - Finance sector development - Inclusive finance - Small and medium enterprise finance and leasing Gender Equity and Mainstreaming Effective gender mainstreaming Description The proposed Improving Financial Access and Entrepreneurship Development Project will aim to expand the financial access and entrepreneurial capabilities of households and micro, small, and medium-sized enterprises (MSMEs) by strengthening financial intermediation in Papua New Guinea (PNG). To support the governments implementation of its financial sector development strategy and financial inclusion and small and medium-sized enterprise (SME) policies, the proposed project will help (i) improve the financial capacity, behaviors, and access of both men and women in households; (ii) improve the financial management and planning skills of MSMEs owned by both women and men, including MSMEs that develop and deploy solutions for health care; (iii) improve the business and product management capacity of participating financial institutions (PFIs); (iv) increase the use of digital financial services (DFS); and (v) strengthen the regulatory environment for microfinancing. The proposed project will continue ADBs lead role in supporting greater financial inclusion in PNG through financial literacy programs and improving the capacity of microfinance institutions. It will address the very low levels of financial access in the population at large and among MSMEs that is weighing on entrepreneurship in a weakening economy and frustrates efforts to create jobs, raise incomes and reduce poverty. |
