The Reserve Bank of Vanuatu (RBV) has secured a major milestone in the nation’s financial future, signing a landmark long-term agreement with Note Printing Australia (NPA) to be the main supplier of Vanuatu’s banknotes for the next five years.
The deal also includes an option to extend for an additional three years, ensuring a stable and secure supply of Vanuatu’s banknotes.
NPA is a global leader in advanced technology for printing banknotes, known for its strong reputation in security, quality, and durability.
Governor of the Reserve Bank of Vanuatu, August Letlet, said the agreement provides certainty and integrity in the supply chain of the Vatu.
“The expectations on this long-term agreement is that we will have predictability in the supply of currency or notes, and of course, we know about the capacity and quality that are afforded by NPA,” Governor Letlet said.
Chief Executive Officer of Note Printing Australia, Malcolm McDowell, said the strengthened partnership will allow NPA to deliver even greater quality and support to Vanuatu.
“We take a long-term view, which enables us to bring all of the resources and capability from NPA to the customer. It starts with a great banknote design and continues with support through distribution and the use of the product in the market. That’s what we can provide when we have a long-term relationship,” McDowell said.
NPA has been a trusted partner of the Reserve Bank of Vanuatu for many years and will continue to provide high-quality banknotes through this new agreement, safeguarding the strength and reliability of the nation’s currency.
