Westpac Banking Corporation Limited
(ASX:WBC) has inked a Memorandum of Understanding (MOU) with the Department of Foreign Affairs (DFAT).
The MOU is aiming to improve the livelihoods of men and women in the Pacific countries of Papua New Guinea and Fiji, by increasing their access to finance.
Westpac CEO Gail Kelly says the partnership is a step forward in helping support economic development, reduce poverty and lift standards of living in the Pacific.
The bank has outlined a plan to enhance overall economic prosperity, including exploring grant funding and commercial loans for major infrastructure projects.
Westpac Banking Corporation reported a net profit of $3.6 billion in the first half of the 2014 financial year.
