Farming groups in districts should access loans: Association

A FARMERS’ group want to benefit too from the K200 million allocated by the Government to small-medium enterprises.
Farmers and Settlers Association president Wilson Thompson said small businesses in districts should be able to access the funds through loans.
“Prime Minister James Marape in his statement does not sound too populist but the intention is that the agriculture and SME sector funding must reach all districts,” he said.
“National Development Bank (NDB) and commercial bank requirements (mean) 80 per cent of the population are excluded either by definition of SME or by the lack of access to the Banks.
“So we have to scrape off some processes and get a committee to decide how much goes to which district and how much to sectors.”
He suggested that loans of K1,000 be given to vegetable and bee farmers, K3,000 to cocoa, coconut and rubber farmers, K2,000 to arts and crafts vendors, and women buy sewing machines and materials, K10,000 to K15,000 to tyre repair shops, K3,000 to kai bar and trade store.
“This funding is not to buy vehicles or build trade stores,” he said.
“It is to support you to get used to the bank loan system and graduate to a new scheme to access to K10,000 to K30,000.”