Gov’t allocates VT260M for RBV branch in Santo
July 2, 2025 10:09 pm | Posted in Business News | Share now TwitterFacebook
By Ezra Toara.
Prime Minister (PM) Jotham Napat has announced a government allocation of VT260 million for the construction of a new Reserve Bank of Vanuatu (RBV) branch in Luganville, Santo.
The announcement was made during the PM’s address at the official opening of the 3rd RBV Economic Symposium, which began yesterday at Unity Park, Luganville.
PM Napat said the groundbreaking ceremony for the Reserve Bank’s northern operations centre took place earlier this week, marking progress in extending banking infrastructure and services to northern Vanuatu.
“The establishment of the RBV’s northern operations centre will help make this important aspect of financial sector development a reality in our northern region,” said PM Napat.
“Its operation will provide currency and banking services directly to the banks in Luganville, boosting confidence in the financial and business sectors in SANMA Province.”
He said the new branch supports the government’s broader aim of ensuring all Ni-Vanuatu — whether in rural villages or urban centres — have access to reliable and affordable financial services.
“Financial inclusion means that all our people, irrespective of where they live, and all businesses, whether big or small, can access and use financial services that are safe and reasonably priced,” he said.
Access to services such as loans, deposits, and money transfers, he said, plays a vital role in driving economic growth and supporting social equality.
The construction of the RBV branch in Santo is expected to strengthen Vanuatu’s financial ecosystem and improve the Reserve Bank’s ability to deliver financial services across the northern region.
