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Port Moresby
January 20, 2022
News

National Developement Bank Extends to Goroka

The signing of a Memorandum of Agreement between Goroka District and the National Development Bank will provide locals access to basic banking services.

This means additional opportunities for people in Eastern Highlands to start small businesses that will sustain their livelihoods.

The MOA is targeting small business operators and ordinary villagers to apply for rural loans.

The MOA stated that Eastern Highlands MPs including the governor will inject part of their Districts and Provincial Support Improvement Program Funds into NDB as security for people to lend.

Goroka District has created a Credit Scheme, where a sum of K3 million was deposited into NDB. From this money, K1.5 million was from the DSIP funds and the other K1.5 million and the other half was from the PSIP funds. 

The district aims to pump K12 million into NDB by 2017 as its commitment to making loans available for its people.

But first, NDB will have to build a two story building by 2015 in Goroka before people can have access this service.

Last Friday, the government presented a cheque of K6 million through the Trade, Commence and Industry Department to NDB to open its branches in Simbu and Southern Highlands provinces.

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