Fisheries credit facility benefits 20

THE local fishing industry in Papua New Guinea took a major leap forward when 20 fishermen in Morobe became the first group of people to benefit from the National Government’s fisheries credit facility.
Yesterday, 20 men, mostly young fishermen from Morobe, picked up K1 million between them to buy boats and other accessories to venture into commercial fishing, a first for Papua New Guinea.
Each men picked up K50,000 from the K5 million that was handed over by Prime Minister Sir Michael Somare on Jan 12 to the National Fisheries Authority (NFA) as the first installment of the K15 million committed by the National Government towards the project.
The Rural Development Bank (RDB) is managing the scheme.
RDB managing director Richard Maru yesterday entered into an agreement with the Morobe provincial government and tuna processor, Frabelle (PNG) Ltd, that started the scheme in Morobe.
The fishermen will use loan to buy the pump boats – an outrigger type boat built in the Philippines for catching tuna – that will join the 24 already fishing in the waters off the coast of Morobe to supply Frabelle (PNG) Ltd processing plant in Lae.
Mr Maru said Morobe was very well advanced in providing a very conducive environment for the success of commercial fishing in local villages.
“It has a very committed provincial government and visionary administrative leadership, a ready market for the catches and technical support and advice for the local fishermen,” he said.
Mr Maru said other villagers would take out loans when the first batch had made their repayments and it was up to Morobe to ensure that the scheme succeeds.

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