
Over $2 billion lifeline for Pacific banks amid rising challenges
by Martin Haffner Associate Editor ANZ bank.Since 2020, several Pacific island nations have been struggling with the fallout from Western banks, cutting long-term relationships and closing operations. Big banks operating in the Pacific will receive a decade-long loan guarantee of more than AU$2 billion (NZ$2.19b) to maintain their operations and avoid relying on China. The…