263 get certificates in financial literacy

 TWO-hundred-and-sixty three people under community-based organisations and cooperative societies received certificates in financial literacy last Friday.

It followed a week-long course facilitated by the Bogia Cooperative Society under a programme organised by National Development Bank.

Those who received certificates had been actively participating in small to medium enterprises in their communities and cooperative society groups.

Madang MP and Minister for Petroleum and Energy Nixon Duban was a guest at the occasion.

Most of them have benefited from the Madang district credit scheme funded by Duban after he put K1 million for the programme last year.

“This is a good programme and I commit another K1 million for the programme for 2015,” Duban said.

He encouraged people to join community organisations and cooperative societies and get loans from the Madang district credit scheme and do sustainable businesses that would help them cater for their needs.

Duban said people had been writing letters seeking financial assistances for projects such as  houses to rent and that persuaded him to provide seed capital at NDB for them to obtain loans and start from there.

NDB’s Mamose regional manager Marrianne Uraiwa said the first funding for the district scheme done in 2013 was K127,000, and the total this yearwas K308,250.

“Total funding used so far from the K1 million is K480,250,” Uraiwa said.

She said financial literacy training was conducted for 263 people registered in 17 community organisations and cooperative societies.