NDB plans K20mil loan for Madang women

By JAYNE SAFIHAO
THE National Development Branch in Madang is expected to give K15 million to K20 million in loans this year to women involved in small to large scale businesses, managing director Richard Maru says.
He said the figures, amid booming economic expansion in the province, was a rise, from the K8 million given out last year and “is a sign of more competition in the macroeconomic sector”.
Maru, who was in the province recently, said he was pleased with the progress of work on a new K5.8 million high rise building in town.
He said women in Madang should be helped when trying to seek financial help.
He said a Women in Business desk would be available throughout all the bank branches.
This is a first for a bank in the country to recognise women entrepreneurs and for any bank to make K20 million funding available for their use to improve their businesses.
Previously women could not access or afford the interest rates charged by commercial banks.
Maru said he hoped this would greatly help women in Madang.
The landmark building, to be painted green and gold of the new NDB look, will be the envy of other buildings around it.
Maru said bank operations would be similar to commercial banks, with deposits taken downstairs.
“It will be a modern building designed to take deposits, and operating as a retail bank,” he said.