Minister seeks funding for agr-SMEs

By DALE LUMA in Maprik
AGRICULTURE and Livestock Minister John Simon is requesting the Government to allocate close to K100 million to support small-medium enterprises (SMEs) involved in agriculture.
Maprik MP Simon visited his district which is heavily involved in agriculture.
The Government in its 2020 National Budget had allocated K200 million to the development of SMEs.
“I will push for this and I know a lot of ministers will also back this idea of supporting agri-SMEs because the bulk of our population is involved in agriculture,” he said.
“This money will support us in cocoa farming, piggery, cattle farming and coffee.
“If you want to get a loan, the money will be with NDB which you can have access to.
“The Government has not given the money yet.”
Another funding the Government has pledged for SMEs will be parked in commercial banks.
“This is for people who own stores or hire car businesses to get loans from with an interest rate below five per cent. The loan repayment period will be 10 to 20 years.”
The Government is still talking to commercial banks.
The money will go to the banks which accept the government’s terms and conditions.
“This is to make it easy and allow ordinary people in the villages to start businesses and generate income.”