Microfinance Pasifika Member Profile

Institution Contact Details
Name of Institution	PNG Microfinance Limited
Postal Address	Musgrave Street Level 2 ADF Haus Port Moresby
Country	Papua New Guinea
Telephone	(675) 321 2111
Fax	(675) 321 3154
Email	paul.thornton@pml.com.pg
Website Address	N/A
Skype	N/A
Contact Person	Paul Thornton
Position	Managing Director
General Institutional Information
Current Legal Status of the Institution	Non-Bank Financial Institution
Objectives	To inspire broader economic participation, financial independence and social prosperity
Brief History	PML was established in 2004 by PNG Sustainable Development Program Limited to provide financial services to the un banked people of PNG. PML applied for and was granted a financial institutions licence by the Bank of PNG in December 2004.
Ownership	PNG Sustainable Development Program Limited - 49% Bank South Pacific - 32% The International Finance Corporation - 19%
Operations related to microfinance and financial inclusion	Lending - group lending, individual lending and consumer finance. Savings - voluntary savings, school savings, term deposits.
Main Funding Sources	Savings Shareholder Capital
Main Challenges	Infrastructure is limited and mainstream financial services are mainly restricted to larger urban centres.
Other Networks	None

Activities