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Port Moresby
January 24, 2021

Borrowing from NDB Doubles

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Applications atthe National Development Bank have doubled inthe first half of this year compared to last year.

NDBeExecutive Manager ofthe Lending Division Trevor Cain saidthe governments K80 million stimulus package has attracted great interest from local entrepreneurs.

He said so far half ofthe stimulus package has been exhausted.

Mr Cain said great interest has been shown by entrepreneurs in a variety of business ventures inthe Small to Medium Enterprise sector.

He saidthey have now shiftedtheir primary focus from agriculture.

Forty million kina fromthe stimulus package has already been exhausted following a spike in applications compared to last year. Betthe NDBeis also wary of scams and applications are thoroughly processed.

The second half ofthe stimulus package is yet to be made available bythe Government.

Applications are already being processed bythe NDBefor the next half ofthe year.


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