PM curious about loan’s rollout

PRIME Minister James Marape will talk to the National Development Bank (NDB) about the delay in the disbursement of the K80 million provided by the Government for loans to small-medium businesses.
He told a breakfast for small-medium enterprises on Friday that the money should be used for its purpose.
The Government had given out K80 million to the NDB and K100 million to the Bank South Pacific (BSP) for the SME credit enhancement scheme.
“In 2020, we funnelled K100 million to BSP (and) K80 million to the National Development Bank,” Marape said.
“BSP has been rolling it out and to be honest I am a little bit discouraged with what NDB is doing.
“I will have a session with them next week (this week).
“Let me thank Kina Bank (too) without extra government support or no Government support at all. I thank all the banks who have partnered with us on SMEs.
“We have put the money there and it is up to you to get yourself organised.
“We can’t allow politically-based distribution.
“Allow the banks to rollout out SME intervention for all of us. Those who are really serious about doing business and in a business practice out there who already have a bank account with the banks can have access to the resources.
“So we’ve delivered funding to BSP and NDB. We might review how we relate with Kina Bank.”