Over 200 women groups in the Moresby South Electorate have been empowered to continue their small to medium businesses despite the impacts of COVID-19 on the economy.
Reference letters signed by local member, Justin Tkatchenko, were presented to various incorporated women groups to assist them to get their loans.
This comes after Prime Minister James Marape assured small to medium enterprises of government support going forward despite the negative impacts of the COVID-19 pandemic on the country’s economy.
The Marape-led government announced a K200 million SME Assistance through Bank South Pacific and the National Development Bank.
The Prime Minister said the Government through its budgetary procedures will partner and put money into the local financial institutions and make it accessible to SMEs to apply as loans to fund their businesses.
Moresby South MP went one step further to help prepare the SME’s in his electorate especially when it comes to loan procedures so they won’t face any problems with the financial institutions.
The Women groups have over 20,000 registered members.
They also used that time to network and come up with a strategy to work together within their electorate to assist women in getting their SMEs off the ground.
Video link: https://youtu.be/Jm8BV6xPda0