Concerns on bank loan conditions

By JIMMY KALEBE
FARMERS in Wau rural local level government in Bulolo, Morobe, have expressed concerns regarding the terms and conditions placed on loans at the banks especially for small to medium enterprise (SME) ventures.
LLG manager Martin Wulying said farmers were trying to get loans but were finding it difficult.
“We heard that we can get loans for SMEs at the bank, but the terms and conditions tied to these loans are very tough and strict and a rural farmer trying to start cannot afford to access the loan,” he said.
Wulying said this when appealing to local MP Sam Basil who had assured farmers that the Government had put K180 million to banks for people to access SMEs loans.
“K100 million was given to Bank of South Pacific (BSP) and K80 million to National Development Bank (NDB),” Basil outlined to farmers at Wau recently.