Bank, Institute partner to roll out training

WOMEN’S Micro Bank WMB) and Human Development Institute (HDI) have started rollout of their micro small to medium enterprise (MSME) partnership scheme to help train and fund 1300 entrepreneurs by the end of 2019.
This follows signing of an agreement between the two parties last Dec, under which grassroots businessmen and women trained in HDI’s personal viability business scheme (PVBS) will be able to obtain credit from WMB to start or grow their businesses.
The SME partnership last Friday at HDI headquarters in Port Moresby also coincided with signing of a memorandum-of-agreement between HDI and Women in Business Foundation, the shareholder of WMB. It is an extension programme to ensure ordinary businessmen and women have access to affordable credit. HDI has trained at least eight coaches over the past seven weeks to rollout the MSME partnership programme in their respective provinces.
Three of these coaches have successfully completed the training last Friday: Steven Pesto from Goodenough Island in Milne Bay, Evangelical Kaima from East Sepik and Beilo Barnabas from Morobe. The education loan to students of HDI will initially be available from WMB branches in National Capital District, Lae, Madang, Wewak, Maprik and Goroka.
After a successful pilot of this product for three to six months, the programme will be open to all provinces through HDI coaches.
PNG Women in Business Foundation vice-president Julie Ngansia also signed an agreement with HDI founder and president, Samuel Tam, to provide business education and training for foundation members.