830 received loans worth K119mil: PM

The National Business

PRIME Minister James Marape has commended the Bank South Pacific for disbursing 830 small-to-medium enterprise (SME) loans totalling K119.7 million up to Dec 21.
The money is from the Government’s K200 million SME credit enhancement loan scheme.
K100 million was given to BSP.
“Since the launch of the SME facility last November, 830 loans have been funded as at Dec 21,” he said.
“This is a very pleasing news indeed as we celebrate Christmas.”
He said another K100 million would be allocated for next year.
“An additional K80 million has been given to the National Development Bank (NDB) to distribute to SMEs. However, disbursement has been slow because of administrative problems. I have already directed the board and management of NDB to explain why they have been very slow in disbursing the K80 million to SMEs.”
BSP, up to Dec 21, 2021, gave out:

  • 830 funded SME loans totalling K119.7 million;
  • 314 approved pending funding totalling K55.5million;
  • 306 applications in the pipeline totalling K102.4 million;
  • FIVE non-performing (write-off) loans totalling 113,247.95;
  • SEVEN non-performing (pending write-off) loans of 365,928.00.