NDB to implement business programme in provinces

 THE National Development Bank will be implementing its Young Enterprise Scheme programme in one province in each of the four regions from 2016.

The scheme will offer entrepreneurial training, mentoring, business support services, and funding over a two-year period for entrepreneurs in other centres.

Bank’s chief executive officer Desmond Yaninen said this was to give a chance to other provinces to participate in the programme and encourage the growth of Papua New Guinea-owned SMEs to reduce the rate of unemployment. From the Government funding that has been allocated to the NDB Investments in 2016, a budget of K5 million has been assigned to the YES programme.  

“We anticipate to fund K1 million to K1.5 million  per programme which averages out to about K10,000 to K15,000 per youth,” he said.

“We welcome partnerships with MPs who like YES through the allocation of funds from their District Services Improvement Programme funds and Provincial Services Improvement Programme funds.  

The programme initially registered 135 young people in the programme in 2014.

YES is Papua New Guinea’s first ever youth in business incubation programme offering business support services and funding over a two -years period.