Niu Ailan Savings and Loans opens agency at LLG

THE Niu Ailan Savings and Loans Society has opened an agency at the old council chamber at Silur, Konoagil local level government in New Ireland.
Governor Sir Julius Chan opened the premises last Saturday in the presence of society executive John Mara, director Gerard Penticost and members of the provincial executive council.
“We are reaching out to the unbanked population so we can encourage a savings culture,” Mara said.
He said the LLG had a lot of economic potential through the various logging activities and the advent of the carbon trade which had reached the area.
He invited the provincial government to partner with the society to involve more savings and financial assistance for small businesses.
Sir Julius praised society’s efforts to become the financial vehicle to expand business opportunities for the people in the province, especially in isolated areas such as Konoagil.
“The provincial government will ensure legitimate and hardworking businesses get their proposals endorsed by backing them up with a 50 per cent credit guarantee scheme.”