Jiwaka people repay NDB loans

Highlands

A TOTAL of 240 people in the Anglimp-South Waghi electorate of Jiwaka have successfully repaid loans they had acquired from the National Development Bank (NDB) in Sept 2014.
They were among 870 people from the 87 council wards in the electorate who have received loans with the bank to start small business.
Local MP Joe Koim had deposited K1 million with the NDB as security for them.
To start off, 10 people from each ward were selected and they received the first loans of K1000 each.
Of that 240 have completed repaying their loans and are now eligible for K2000 loans while the rest have yet to complete repayments.
Last Friday, at Komun, the 240 people were graduated into the second phase of the micro finance credit scheme which enables them to obtain K2000 each venture into small to medium size enterprises.
Koim, Trade, Commerce and Industry Minister Richard Maru, the chairman of the SME Corporation Michael Mel Yaki, NDB credit scheme manager Daniel Wohwiehembe and Bank South Pacific highlands regional manageress Mary Kundi were present to witness the graduation of the 240 people.
Maru commended the people for taking part in the SME sector because it was the Government’s vision to promote businessmen and women.
He said the O’Neill Government was giving out millions of kina to boost the SME sector in the country.
He described Koim as the only MP in the country that was using his K1 million from his District Service Improvement Programme (DSIP) funds to help the people.
“This K1 million is given by the National Government to each MP to promote the SME sector in each electorate,” Maru said.
He said every MP must use his or her K1 million to support the SME sector like Koim was doing.
“The SME sector in the country is the foundation of breeding a lot of businessmen and women.”

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