Koroba-Kopiago MP signs MOA
KOROBA-KOPIAGO MP SIGNS MOA WITH NDB FOR SME CREDIT SCHEME FOR HIS ELECTORATE
Member for Koroba-Kopiago Honorable William Bando has signed an Memorandum Of Agreement (MOA) with the National Development Bank (NDB).
The MOA is for the Koroba-Kopiago District SME Credit Facility worth K1 million which the people of Koroba-Kopiago can access to participate in small scale commercial and agricultural activities thus contribute to the economic development of the district.
Member Bando said the signing of the MOA embraces the promise he made to his people under SME and this can only be achieved if they get themselves engaged in meaningful business activities. “It is my hope that my people engage themselves in activities to sustain themselves and become useful contributors in society. I am putting K1 million from my DSIP in NDB for the Koroba-Kopiago District SME Credit Scheme with the MOA signing so we can start rolling it out in the new year,” stated the Member.
Chief Executive Officer of NDB Mr Johnson Pundari commended Member Bando for choosing to partner with NDB to serve his people. “On behalf of the Board and Management, I want to thank you for putting your heart at the right place that is serving the people and putting the money where the mouth it. We are happy to be partners with you in delivering this vision so what you want to see delivered back in your district can and will be delivered through this partnership,” CEO Pundari reiterated.
NDB Executive Manager and Head of Credit Gary Coplin also thanked Member Bando for his instrumental role in establishing the new NDB Tari Branch Building opened in May this year during his tenure as a public servant. Mr Coplin added that now in his capacity as the Member for Koroba-Kopiago and signing the MOA for his District SME Credit Scheme, further reaffirms his commitment to his people and the partnership with NDB.
Mr Coplin said the MOA makes the funding for the people of Koroba-Kopiago affordable and accessible. “Equity is at 20% which is accessible and the Interest Rate at 6.5% is very affordable. There is NIL Security as it is fully guaranteed under the Scheme,” Mr Coplin highlighted.
NDB will administer the Koroba-Kopiago District SME Credit Scheme and will only lend to the people the Koroba-Kopiago District Development Authority (KKDDA) endorses after their screening process.