17 Feb 2012

PNG's National Development Bank board to spend millions on new investment

10:08 am on 17 February 2012

The National Development Bank board in Papua New Guinea will spend 60 million US dollars this year.

It's board chairman William Lamur told The National newspaper the money is to be spent on new capital investment, including completing three offices at Borko, Madang and Wewak.

Mr Lamur says there will also be investments made in new technology to develop SMS banking and interest banking services to clients.

There will also be new initiatives which will assist women entrepreneurs, and youth in business.