Backing Papua New Guinea business since 1967
Four names, one purpose: helping Papua New Guineans build businesses and livelihoods.
- Founded1967
- NamesFour names, one bank
- Serving PNG for59 years
- Our storySee the timeline
One bank, four names.
- 1967 – 1984Papua New Guinea Development Bank
- 1984 – 1994Agriculture Bank of Papua New Guinea
- 1994 – 2007Rural Development Bank
- 2007 – todayNational Development Bank
Our journey.
- 1967 – 1984
Papua New Guinea Development Bank
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1967
Open for business
The Bank opens as the Papua New Guinea Development Bank.
-
1970
Three years into lending
2,728 loans approved, and the Bank has taken up equity of AUD 3 million in 10 companies.
-
1975
Stret Pasin Stoa scheme
The Stret Pasin Stoa scheme is launched, opening 11 stores by the end of the year.
-
1980
Coffee development scheme
The 20-hectare coffee development scheme finances 50 projects in the Highlands of Papua New Guinea.
- 1984 – 1994
Agriculture Bank of Papua New Guinea
-
1984
New name
The Bank is renamed the Agriculture Bank of Papua New Guinea.
-
1990
Agriculture Bank bonds approved
The National Executive Council approves Agriculture Bank bonds with a capital value of K15 million, and the purposes for which a State guarantee may be issued.
- 1994 – 2007
Rural Development Bank
-
1994
New name and structure
The Bank becomes the Rural Development Bank and introduces a new organisational structure based on profit centres.
-
1997
Supporting small entrepreneurs
The Bank helps establish 1,005 small entrepreneurs, with financing worth K4.2 million.
-
2005
New banking system
The Bank introduces the Abacus management information system, replacing the outdated WANG system.
- 2007 – today
National Development Bank
-
2007
National Development Bank
The Bank takes its current name, the National Development Bank.
-
2010
DIP funding
The Bank receives K41 million in DIP funding, the highest since 2004, including K20 million to establish the proposed NDB Micro Bank.
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2012
Women in Business
NDB introduces the Women in Business loan product.
-
2013
Lower lending rate
NDB reduces its lending interest rate to 6.5%.
-
2013
Peoples Micro Bank
NDB’s subsidiary, Peoples Micro Bank Limited (PMBL), formerly NDB Microbank, begins operations.
-
2014
Youth in Business
Subsidiary NDB Investments launches its first Youth in Business program, “YES”.
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2017
50th anniversary
NDB celebrates 50 years of service to Papua New Guinea (1967–2017).
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2020
MSME Credit Loan Facility
NDB receives K80 million from the Government for the MSME Credit Loan Facility.
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2021
MSME loans at 4%
From 1 November 2021, NDB begins funding MSME loans at a 4% interest rate.
-
2025
First female Chairlady
Mrs. Keryn Hargreaves is appointed the first female Chairlady of the National Development Bank, a historic milestone for the institution. Read the press release
Meet the people leading NDB today.
Ready to write your own business story?
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