The people of Anglimp South Waghi in the Jiwaka Province have been empowered to create wealth and grow the SME Sector.
This has been made possible with the roll out of a microfinance project by the local member, Joe Koim.
The first 100 people will be able to get a loan of one thousand kina each from the National Development Bank (NDB) to start up small businesses.
A total of 1000 people in the electorate will get loans of K1, 000 totalling K1 million from the NDB. Arrangements are in place with this K1 million deposited as start-up capital for people to access.
In total, six million kina will be invested in this sector to empower local people across a period of 18 months.
It will exist as a revolving fund for all people to participate, even in future.
Empowering local people to do business and to grow the SME sector is one of the government’s priority areas.
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