K200 million allocated to help people farm lands

SMALL and Medium Enterprise Corporation (Smec) managing-director Petrus Ralda says there is a K200 million funding to help people work their land to generate income.
“The registration of SME associations in rural areas by mothers and youths is the way forward to participate in the Government’s SME funding programme,” he said.
Ralda spoke at the launch of the Kamda Eyelearns Women and Youth Association in Kikrel village on Saturday.
The association was formed by 130 women and youths from Lower Nebilyer in Western Highlands.
He announced a K50,000 funding for them to undergo financial literacy training soon.
Ralda said the Bank South Pacific and National Development Bank would provide support by giving out loans at concessional rates under the Government’s SME funding.
“The Government is giving priority to SMEs which it sees as a major source for generating employment and creation of wealth,” he said.
Investment Promotion Authority highlands regional manager Joshua Jerry said there was a major need for associations to be transparent.
“Genuine SME businesses must be aware that there are people who use associations and landowner groups for money laundering purposes and they must not be part of it,” he added.