Women’s Micro Bank signs agreement for Kerema branch

PEOPLE in Kerema, Gulf will now have easy access to funds and support the district’s economic plans in empowering entrepreneurship in the district.
This was made possible through a memorandum of agreement between the Women’s Micro Bank Ltd (WMB) and the district development authority.
Kerema MP Richard Mendani said initial funding of K1.5 million for the Women’s Micro Bank was to roll out the scheme.
The scheme would be coordinated by the district and bank project team. The district will fund the setting up of a branch in Kerema.
Mendani said this would create an avenue for his people to have access to funds and play a more active role in the economic development of the district.
The district and the bank will also consider the provision of loan facilities to borrowers through their suppliers which included farmers and fishermen.
Bank chief executive Gunanidhi Das said the bank was trying to implement the real microfinance concept in the country.