Agency aids women’s bank with K830,000

Business

THE Women’s Micro Bank Ltd (WMBL) has received a loan of K830,000 from the United Nations Capital Development Fund (UNCDF).
The loan was granted to WMBL general manager Gunanidhi Das on Oct 11 by United Nation’s resident coordinator, Gianluca Rampolla.
In Papua New Guinea, nearly 80 per cent of the adult population are working in the informal sector, most of whom are women.
Despite its immense contribution to the economy, the sector is still facing a big challenge when it comes to access to credit.
The loan to the Women’s Micro Bank Ltd is the first of its kind for UNCDF in PNG and will be used for on-lending to women entrepreneurs through WMBL’s mama bank access points. A move that will see more women in the informal sector have access to credit.

One thought on “Agency aids women’s bank with K830,000

  • Congratulations!
    Helping mama to build a nation
    This is root of a healthy nation.

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