District making use of bank’s credit scheme programme

Business

A DISTRICT in East Sepik, has been actively involved in the National Development Bank (NDB) credit scheme programme, an official says.
NDB Credit schemes manager Daniel Wowiehembe told The National that as a result, NDB established a new banking facility in Maprik. It will house NDB’s credit scheme branch and the People’s Micro Bank, a subsidiary of NDB.
“NDB has a strong presence in Maprik,” Wowiehembe said.
“NDB has a credit scheme programme with Maprik of which the district initially parked K2 million with NDB (for) general SMEs (small medium enterprise) loans.
“This is to do with PMVs, fermentries, poultry projects and any other projects and business opportunities.
“Recently, we launched the school fee agriculture loans. Parents and students who want to pay for their school fee can obtain loans from NDB under this programme.
“The catch here is that students who want to get the loan must have one hectare of cocoa.”
“They have also launched five meals-on-wheels food carts under the scheme. They will also set up automated teller machines.
Wowiehembe said business was booming in Maprik with vanilla, cocoa and other commodities.
“We see that the business environment is growing in the district and we would like to tap into that,” he said.