Credit loan scheme attracts many

National, Normal

The National, Friday October 18th, 2013

 SINCE its launching two weeks ago in Lae, people from all nine districts of Morobe have been flooding the provincial headquarters, Tutumang Haus, daily. 

A visit there yesterday showed a capacity crowd, with most people checking for lists that confirm their eligibility for the Morobe Credit Guarantee Scheme. 

The scheme is driven by the Kelly Naru-led government to provide soft loans to encourage locals, especially rural-based, to get into small and medium scale enterprises.

Just days after its launching, reports have arisen of scams and con artists zeroing in and soliciting money and items from people.

Warnings have been sounded that loans offered under the scheme were tied to genuine projects and should not be applied as personal loans.  

The scheme is being rolled out in partnership with the National Development Bank.