Agriculture, transport projects for Madang

The National National
Madang Governor Ramsey Pariwa (left) congratulating Coastline Agro Commodities project manager Thaddeus Tulem on the successful project launch at Dimer village. – Picture courtesy of JAMES GUKEN

MADANG Governor Ramsey Pariwa unveiled five new agriculture and transport projects in Dimer village, Sumgilbar LLG, Sumkar last Sunday.
These projects are youth timber project, Kava buying project, Dimer Basket ring road (36km), Coastline Agro Commodities, Usiseng Trading and PMV Transport and St Joseph’s Kanenung Primary School.
Pariwa also announced the allocation of K5 million to the National Development Bank (NDB) to support small-to-medium-enterprises (SMEs) and micro, small and medium enterprises (MSMEs).
These funds would serve as security for loans to local residents involved in SMEs and MSMEs, enabling them to initiate or expand their businesses.
Aspiring entrepreneurs could apply for loans at the NDB by providing 20 per cent equity.
Once the requirement was met, they would be eligible to receive 80 per cent of the loan amount to kick-start their business ventures.
The loan range was from a minimum K5,000 to K20,000 for newcomers in the SME and MSME sectors.
Existing SME and MSME owners with a solid cash flow record could apply for loans of up to K100,000.
Pariwa highlighted that the NDB required aspiring entrepreneurs to complete a certificate in SME training, which would be organised by the Madang commerce division.
This training would cover essential aspects such as budgeting, financial literacy, bookkeeping and equipping participants with valuable skills for business success.
Negotiations are underway with the NDB to reduce the interest rate from six per cent to a more reasonable four per cent for local entrepreneurs.
Once an agreement was reached, the plans would proceed accordingly, providing a more favourable environment for business growth.
Pariwa expressed his satisfaction with the successful launch of these projects, saying:
“These are the kinds of projects I aspire to see,” he said.
“Their implementation has made a remarkable impact, this is the path to progress.”
Pariwa also emphasised the significance of tax revenue as the primary source of government income, highlighting how these projects would contribute to the government’s initiatives.
He urged the youths to actively engage in such activities to avoid involvement in illegal practices that might lead to social issues.
The launch of these projects marked a significant step towards promoting local economic development and creating opportunities for the residents of Madang.
With the allocation of funds and dedicated support for SMEs and MSMEs, Pariwa aimed to foster a culture of entrepreneurship and contribute to the region’s growth.