BANKS TALK TO STAFF ON HOME LOANS

The Department of Personnel Management (DPM) recently facilitated an important step in its Public Service Homeownership Program, as staff took the opportunity to enquire about their eligibility for home loans with visiting commercial banks.

On the 25th to 29th August 2025, leading financial institutions  such as Bank South Pacific (BSP), Kina Bank, Westpac, and the National Development Bank — set up booths at the DPM Central Government Office here in Waigani.

This initiative allowed public servants to undergo financial pre-assessments directly with the banks, enabling them to determine whether they were eligible for a home loans.

Staff also received guidance on their borrowing capacity and were able to better understand the requirements for transitioning into homeownership.

The program was co-funded under a Public-Private Partnership between the Marape-Rosso government  and the International Finance Corporation (IFC) which played an advisory role.

Prior to the bank visits, DPM and IFC had conducted market sounding exercises with potential developers to explore housing options for public servants.

Secretary Taies Sansan noted that the enthusiastic response from staff reflected the importance of affordable housing and financial literacy for public service.

She stressed that the program was a government commitment towards improving the welfare of public servants by not only creating access to housing but also empowering them with the financial knowledge to make informed choices.