Pilot project for East Sepik women

THE first microfinance pilot project for PNG Women in Business (PNGWiB) is ready to start in Wewak, East Sepik.
PNGWiB Microfinance Institute chief executive officer Thushari Hewapathirana said this in Port Moresby yesterday at the opening of the new head office.
She said the establishment of the microfinance project would enable PNG women to access funds and venture into business.
She said it would assist women get small loans and repay at an affordable rate.
Hewapathirana, who has been in PNG for three months, said the institute was still in the process of putting together all organisational requirements.
She said the microfinance would exclusively promote finance for women members.
She said they would provide for small loans from about K200 to K1,000 which commercial banks did not cater for.
Hewapathirana said the institute would also provide for emergency needs for health and education.
PNGWiB president Janet Sape said she was happy with the work Hewapathirana was doing and was confident she would deliver the microfinance project.
She said it was a pre-requisite that all PNGWiB members undergo financial literacy training to be able to seek financial assistance from the microfinance project.
She said their financial trainer was now in the highlands region and would be travelling to other centres to conduct similar training sessions for women.