The National Development Bank’s Credit Scheme is one of the programs that implements the financial inclusion agenda for the government, says managing director Moses Liu.
He made the remarks during the signing of a memorandum of agreement between the Enga Provincial government and the Bank for NDB to roll out the Enga Provincial Government Credit Scheme.
“The Bank saw that we had to have a vehicle to channel the government developmental funds through credit schemes because it was an appropriate model,” Liu said. There are 19 schemes of similar nature already established with the Bank, four of which are credit schemes for provincial governments and 15 are for district governments. “EPG’s credit scheme will officially serve its purpose to provide affordable micro credit to the people of Enga basically to engage in small businesses in the micro sectors,” Liu added.
The Enga government has pledged to park K1 million with the Bank for it to roll out the credit scheme to the people of Enga. Enga Governor Sir Peter Ipatas said the scheme will target mostly the locals that are engaged in small and medium enterprises under the agriculture sector.
“The challenge is on the people now. If they utilise the credit scheme properly, we will be investing more in the future,” he urged. Sir Peter added that with the economic impact of the corona virus pandemic and the ban of betel-nut business in the province, the scheme is an alternative for the people to farm the land. “The purpose of the scheme is to empower and provide opportunities for our own people to stay on their land and venture into farming businesses for their own income,” he said..
L-R: Wabag Branch Manager Arnold Pingin, NDB Executive Manager Lending Trevor Cain, NDB Credit Schemes Manager Daniel Wohwiehembe, NDB Managing Director Moses Liu, Enga Governor Grand Chief Sir Peter Ipatas and Enga Provincial Administrator Dr. Samson Amean