Supporting Pacific islands should be ‘strategic priority’ for banks – Orr

RBNZ governor says banks must show ‘courage’ and provide services through good times and bad

Adrian Orr
Adrian Orr
Photo: Banco Central de Chile

The governor of the Reserve Bank of New Zealand has urged local financial institutions to make supporting Pacific island nations a “strategic priority”.

“New Zealand bank boards and chief executives need to show courage by supporting banking services and remittances,” Adrian Orr said on April 27.

Countries in the south Pacific region are facing significant challenges on two fronts: climate change and the economic impact of Covid-19.

Orr noted that the withdrawal of correspondent banking

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