Reported about 2 months ago
The Australian government plans to provide ANZ Bank with a A$2 billion ($1.3 billion) loan guarantee over ten years to support its branch network in the Pacific, aimed at countering China's influence in the region. ANZ is also expected to invest A$50 million into expanding its services and digital capabilities in the Pacific. This initiative comes as both Australia and the U.S. work to strengthen financial connections in the area, where smaller nations face challenges from diminishing ties with Western banks.
Source: YAHOO