K3million for MSME

By PETER ESILA
TWO hundred and eighty women’s associations in Moresby North East district can now access micro to small medium enterprise (MSME) loans to start small businesses, according to local MP John Kaupa.
At the launching of the district’s MSME programme in Port Moresby yesterday, Kaupa said K3 million had already been allocated.
Prime Minister James Marape, who launched the programme, encouraged Papua New Guineans to be business minded to be economically independent.
National Gaming Control Board chief executive officer Imelda Agon committed K50,000 to the district’s programme.
National Capital District Governor Powes Parkop also made a commitment of K1 million next year for the programme while Marape also made a commitment of an additional K3 million.
Kaupa said the district had engaged technical teams which visited the four wards in the district doing awareness and helping women, especially mothers.
“We have collected 280 Mothers Incorporated Business Associations. They will receive MSME funding assistance this year.
A total of 20,000 women from Moresby North East District are involved in this programme,” Kaupa said.
“Moresby North East district under my leadership has given priority to enhancing self-entrepreneurs for mothers and individuals for economic self-reliance and poverty alleviation.
“My DDA (district development authority) has allocated K3 million for the MSME that those mothers association and successful individual applicants will receive.
“K2 million from my DSIP funding and K1 million from the national government’s Covid-19 funding that has been endorsed by the DDA to be used as an addition for small business recovery package for those mothers in business who were affected by the Covid-19 pandemic.
“The district MSME that I am currently initiating is to empower families or households in Moresby North East.” Kaupa said the 280 Mothers Incorporated Groups would receive funding through soft loans that would help in their business to stock supplies for trade stores, canteens, poultry or piggery projects, mini markets and other micro entrepreneurial activities.