Kairuku-Hiri people to benefit from loan scheme

National, Normal


PEOPLE in the Kairuku-Hiri electorate of Central province  will benefit from a loan funding scheme made available by local MP Paru Aihi through PNG Micro-Finance Ltd.
A memorandum of agreement (MoA) was signed between Mr Aihi and PNG Micro-Finance managing director Paul Thornton at PNG Motors in Port Moresby last Thursday which saw two new PMVs  bought  under  the scheme.
The first recipients to receive their PMVs under the scheme were Papson Boi of Pinu village and Henry Kakale of Apanaipi village who were on hand to witness the signing.
Mr Aihi said with the National Government’s emphasis on empowering people in terms of development, he would like to see his electorate benefit through activities that would generate money and improve capacity and infrastructure to help boost the economy.
He said these  were  not  handouts and therefore people should work hard and do away with the handout mentality.
He committed K500,000 to Micro-finance Ltd as a guarantee for Kairuku-Hiri people to access loans for any projects that would benefit them and the district or electorate for that matter.
Mr Thornton congratulated Mr Aihi, saying that Kairuku Hiri was the biggest of Central electorates with about 80,000 people.
“We need practical activities that will help transport the green gold,  betelnut, through accessible means.”
However, he stressed that PNG Micro-Finance would like to build discipline amongst members in terms of the “credit culture”.
Mr Aihi said a committee was set to vet applications before being forwarded to PNG Micro-Finance Ltd for further deliberation. The vehicles cost K90,000 each and will be released this week after transactions have been finalised between the parties.