Guideline on management of fund needed

By DALE LUMA
THERE is yet to be a clear guideline on how the K200 million allocated by the Government for small-medium enterprises (SME) can be properly managed and accessed by genuine beneficiaries, says a company executive.
Credit Corporation Chief chief executive officer Peter Aitsi told The National that a properly outlined programme would allow for a more sustained SME sector.
The K200 million promised for SME soft lending will be distributed thus: K100 million to the Bank South Pacific (BSP), K80 million to the National Development Bank (NDB) and K20 million to the Department of Commerce and Industry.
“There have been promises of the K200m funding for SMEs (but) we are still waiting,” Aitsi said.
He said it was important that a clearly developed programme be outlined to ensure the funds were properly managed which “genuine SMEs are able to access”.
“And as result, we are able to encourage more sustained and widespread growth in the sector,” he said.
Micro Small Medium Enterprise (MSME) Council president Desmond Yaninen said yesterday: “We understand that the funding under the Covid-19 SME economic stimulus is ready and the Government is paying all MPs directly.
“It is up to districts to decide how to use it.
“We hope it will be used to relieve the SMEs from the hardships they face. As for the specific loan funds to the banks, nothing has been given yet,” Yaninen said.