USAID helps improve financial literacy for 181 people in Madang Province
News Highlights September 6, 2022
U.S. Agency for International Development (USAID) supported 181 people, including 140 women (77 percent), to access financial literacy training in Madang Province.
From August 29 to September 2, five local trainers, certified through USAID’s partnership with the Center for Excellence in Financial Inclusion (CEFI), trained 181 people in the basics of financial literacy at various locations in Madang. Participants in the financial literacy training now have a better understanding in the basics of saving and budgeting, which are the foundational skills for creating new enterprises and increasing household and personal financial security, particularly for women.
Unfortunately, many people from marginalized communities in PNG, especially women and people from rural and remote communities, find it difficult to access services like banking so they often miss out on its associated economic benefits. For example, banking provides people the ability to save money in a secure place for future use or the option to access financial credit to grow their small-scale business and expand their livelihood options.
Illan Baboa, is a graduate of the financial literacy training conducted by trainer Tina Manamb at the Tusbar Secondary School in Madang said “Thank you USAID, this training has taught me better ways to save and budget my money so I can continue to help meet my family commitments and put money aside to grow my small floral business”.
This is part of USAID’s commitment through the PNG Lukautim Graun Program (LGP) and its partnership with CEFI to deliver financial literacy training for Papua New Guineans that focuses on the economic empowerment of people form marginalized populations, particularly women.
Led by Cardno International Development – a DT Global Company, USAID’s PNG LGP works in partnership PNG Government, local communities, and a range of implementing partners from the private sector, faith-based organizations, and civil society organizations to empower traditional landowners to sustainably manage their resources and particularly to economically empower women to be full participants in PNG’s economy. Improving people’s livelihood prospects helps communities to reduce pressure on forest resources and contribute to protecting PNG’s rich biodiversity for future generations.
