District gives bank K2.5mil to provide credit facility

Business

THE Women’s Micro Bank Ltd has received K2.5 million from the Kerema development authority to provide a credit facility in the district.
It will enable people to access credit and support the district’s plans to empower entrepreneurship in Kerema.
The bank and the district authority recognised that locals in Kerema should be equal partners in economic development plans through access to financial services.
In Port Moresby last week, Kerema MP Richard Mendani said the district and the bank would roll out the credit guarantee scheme.
“This will create an avenue for the people to access credit, to enable them to play a active role in the economic development of the district,” he said.
Women’s Micro Bank chief executive Gunanidhi Das said the bank was trying to implement the real microfinance concept in the country.
“We are happy to work together to help and support Kerema’s ambitions to extend inclusive financial inclusion services to its people,” Das said.