Business Momase News Papua New Guinea

MPG Conducts SME Workshop To Help Locals Access SME Funds

Locals from the nine districts of Morobe raised concerns on the difficulties of accessing the Government’s appropriated Small to Medium Enterprise funds from the National Development Bank. 

This follows a graduation ceremony on SME in Lae on the weekend organised by the Morobe Provincial Government. 

Flora Javia from Morobe in the Huon Gulf District who participated in the workshop said they have the capacity to venture into small businesses, however, it is difficult to sustain due to lack of infrastructure. 

An awareness program on Small and Medium Enterprises was organised by the Morobe Provincial Government last week to help cooperatives access the government’s K200 million funding.

This follows a commitment made by the Provincial Government that gives opportunities to locals from Morobe’s nine districts to access a K80 million funding from the National Development bank. 

The provincial government would assist with the requirements including business registration with Investment Promotion Authority and with their loan submission.

In November last year, an allocation of K200 million for Micro Small to Medium Enterprises and Agriculture committed by the Government was completed and shared among relevant government agencies to assist SMEs. 

The K200 million SME funding was approved by the National Executive Council last year. K100 million from the K200 million was allocated to the Bank of South Pacific, K80 million to NDB and K20 million to the Commerce Department. 

Locals who attended the awareness last week are expected to receive their certificates on Thursday this week. 

Fish Farmer, Flora Javia said the Provincial Government and their local MPs should now focus on improving infrastructures including transport and road to help the locals sustain their business operations. 

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