The Timor-Leste (East Timor) Central Bank Friday announced a project to develop a strategic plan to expand the country's financial services with a view to reaching more of its citizens.

"The aim of the project is to develop, together with stakeholders, a strategic plan for East Timor's financial system, taking into account that the country is moving towards an economy that encourages national and international investment and provide a greater number of citizens access to financial services," said the statement.

According to the Central Bank's statement, the project will take 10 years to implement and will include "concrete actions that allow the financial system to be a catalyst for economic growth." (macauhub)