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$23m deal for the poor

Dawn Gibson
Friday, May 23, 2014

IN a bid to aid hundreds of thousands of financially-disadvantaged households across the Pacific, the Australian Government yesterday signed a three-year partnership with the Pacific Financial Inclusion Program (PFIP).

The $A14million ($F23.5m) partnership, signed by Australian Secretary for the Department of Foreign Affairs and Trade Peter Varghese, is one which works to increase financial services for these disadvantages households.

And the program's phase one reached about 600,000 Pacific Islanders, a statement released yesterday reported.

"PFIP is helping lay the foundation for a prosperous Pacific region by enabling the poor to save, insure against risks and grow their own entrepreneurial activities," Mr Varghese said.

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