THE National Development Bank (NDB) has highlighted positive feedback on the rollout of the government’s K200 million Micro Small Medium Enterprise (MSME) credit facility scheme.
According to the bank, the scheme allowed interested individuals to apply for various loans such as the agriculture loans, Bougainville enterprise loans, Youth and Enterprise loans and women in business loans.
NDB Business Development Manager (Credit Schemes), Lloyd Piari, revealed that so far, the bank was able to give K92 million to clients since 2021.
“We received the funding from the government in 2020 and in 2021 we started lending loans to customers,” Piari said.
Despite challenges faced in accessing the facility, he said the scheme is quite a good intervention from the government and encouraged customers to utilise it profoundly.
“We want the people to go more into agriculture business, fisheries and cattle which we believe for sure they can be able to earn something and do more business,” Piari said.
“Like any other loan, there is default of loan which we have been able to deal well with customers by working closely with them.”
He said the type of loans given out come with a requirement of monthly repayment and it comes to effective right after the loan is being given out.
Mr. Piari added that they are working on to lend out the remaining balance of the K200 million.
He said the bank wish to see the MSME credit scheme continues in the future with more support from the government.
Lloyd Piari was speaking at the Government’s MSME credit scheme seminar hosted by PNG NRI in Port Moresby on Wednesday.
