Bank credit scheme open to Koroba-Kopiago SMEs

THE people of Koroba-Kopiago in Hela can benefit from a small-to-medium enterprise (SME) funding of K1 million with the National Development Bank (NDB).
This was arranged through a memorandum of agreement that was signed by MP William Bando and the bank recently.
The people can access the credit facility to participate in small-scale commercial and agricultural activities and contribute to the economic development of the district.
Bando said: “It is my hope that the people engage themselves in activities to sustain themselves and be useful contributors to society.
“I am putting K1 million from my district service improvement programme funding in the NDB for the Koroba-Kopiago SME Credit Scheme in the new year.”
NDB chief executive Johnson Pundari commended Bando for partnering with the bank to serve his people.
“We are happy to be partners with you in delivering this service,” Pundari said.
NDB executive manager and head of credit Gary Coplin also thanked Bando for establishing the new NDB Tari branch building in May this year during his tenure as a public servant.
“Equity is at 20 per cent which is accessible and the interest rate at 6.5 per cent is affordable,” Coplin said.
“There is nil security as it is fully guaranteed under the scheme.”
NDB will administer the district’s scheme and will only lend to people after the district development authority endorses the loan after a screening process.