Finance ministers and central bank governors from the Pacific Islands will gather in Sydney on 25 to 26 August for a conference to highlight the importance of financial literacy in the region.

The conference, Deepening Financial Capacity in the Pacific, will look at 'best practice' case studies from the public and private sectors in the region. It will also be an opportunity for Pacific government officials and development partners to share information and explore opportunities to work together to help boost financial literacy in the Pacific Islands.

Financial literacy is very important for policymakers and ordinary people to make better economic decisions, especially at times of higher oil and commodity prices.



Representatives from Pacific Governments and development organizations will discuss ways to expand the reach of financial services and remittance flows through the use of modern banking technology. A pilot project developed by World Bank and the Reserve Bank of New Zealand for migrant workers from Vanuatu will also be presented.

The Conference is being sponsored by the Asian Development Bank, International Finance Corporation, International Monetary Fund, Reserve Bank of Australia, United Nations Development Program and the World Bank. ADB, 24/08/08.