THE Bank of Papua New Guinea (BPNG) has launched a strategy aiming to see 1 million bank accounts set up by 2016.

The National Financial Inclusion and Financial Literacy Strategy hopes half of those new accounts will be held by women.

PNG Treasurer Don Polye launched the strategy and said it would pave the way for stakeholders including government agencies, financial institutions and commercial banks to work with the grass roots people to provide ways for them to easily access financial services.

Backed by 13 financial institutions, the National Youth Savings Campaign aimed at encouraging children between the age of 15-25 to open bank accounts and save money was also launched in December, at the Financial Inclusion Expo in Port Moresby.