Friday January 15th 2021
Prime Minister Hon. James Marape has applauded Maprik MP and Agriculture and Livestock Minister, Hon. John Simon, for establishing an avenue for his people and neighbouring East Sepik districts to enhance their businesses.
He said this yesterday (Thursday, January 14th, 2021) when opening the National Development Bank (NDB) and People’s Micro Bank Maprik branches.
Prime Minister Marape said one of his Government’s main priorities since taking office in mid-2019 was to empower people to participate in Small and Medium Enterprises (SMEs).
“Last year, this Government ensured that the National Development Bank was allocated K80 million to assist our upcoming SMEs grow their small businesses through affordable loans at reasonable and low rates,” he said.
Prime Minister Marape said his Government aimed to set up more NDB branches to create increased opportunities for SMEs.
“Creating such avenues for our people to progress in their SMEs will enable and empower them to proceed in their hopes of becoming successful business men and women throughout Papua New Guinea,” he said.
“Who said we cannot become millionaires in our own land when the Government is here to assist you financially?
“However, this Government does not entertain free handouts.
“You must prove to these financial institutions that you are capable of borrowing from them and repaying at an affordable rate.
“This Government is playing a major role providing financial assistance to our people to help grow their SMEs.”
Prime Minister Marape encouraged the people of Maprik, East Sepik and PNG as a whole to utilise this Government initiative to enhance and grow their local SMEs.
The Government last year allocated K200 million for SMEs loans, K100 million of which was given to Bank South Pacific, K80 million to NDB and K20 million for administrative and business training purposes by Government agencies like the Department of Commerce and Industry, Department of Agriculture and Livestock, and others.
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