PT . Bank of Papua Regional Development Company Limited before being named Regional Development Bank ( BPD ) Irian Jaya , was established on 13 April 1966 pursuant to the Decree of the Governor of West Irian No. I : 37/GIB/1966 and passed into West Irian Province Regulation No. 1 of 1970 dated March 23, 1970 in West Irian Provincial Gazette no. 42 in 1970, then the Decree of the Minister of Finance No. Kep.283/DDK/II/1972 dated July 15, 1972 on the granting of an operating license for Regional Development Bank of West Irian based in Jayapura carry out operations as other commercial banks with the capital requirement was first set at IB Rp.4.000.000 , – .
Further changes have occurred several times and the last Regional Regulation No. 7 of 1996 Peda there is a change in the authorized capital of the bank to Rp . 50 billion . Then Decision Meeting Number : 05/SK/RUPS-BPD/XII/2000 has decided to change the legal form of the Regional Development Bank of Irian Jaya Local Company ( PD ) to Limited Liability Company ( PT ) .