K5 million worth SME Credit Program launched in Madang

The Madang Provincial Government has launched its first-ever Small to Medium Enterprise or SME Credit Program, valued at K5 million which will be rollout in the province in partnership with the National Development Bank.

This was a milestone achievement under the leadership of Provincial Member, Ramsey Pariwa launched last Friday at Batas Oval in the heart of Madang town.

This significant program was attended by multitude from all six districts in the province, including senior representatives from the National Development Bank [NDB] and the SME Corporation.

Provincial Member Ramcy Pariwa said it is the first time the people of Madang are seeing their Government going right down to their level, through the SME Credit Program.

He said the program is open to everyone, including table mothers [mamas] who can acquire loan to expand their businesses and become competitive.

“The project creates an opportunity for the people of Madang Province to improve their living standards," Pariva sadi.

Mr. Pariva said the funding for the project was supposed to have been released two years ago but nothing happened.

"The funding has been sitting in the provincial budget for the last two years because the priority of the former Provincial Administrator [PA] was on other things,”Pariva said.

However, Mr. Pariva said funding for the project was released when the acting PA, Daniel Aloi took office recently.

“The funding will help to create jobs for the jobless, and will enable local entrepreneurs to create employment for themselves. It will generate income into the pockets of a farmer, fisherman or an aspiring entrepreneur in the village,” he said.

Mr. Pariwa stressed that the responsibility of a responsible government is to create possibilities for the people and not spoon feeding them.

The priority of the loans is in five categories and they are, Agriculture SME, Women SME, Youth SME, Manam SME and General SME.

In order to be eligible for the SME Credit Program, one must have to attend a SME Financial Literacy Training to obtain a certificate, which will become a requirement that the NDB will accept to process loan applications. Individuals who wish to apply were urged to consult the provincial commerce office in Madang.

Meanwhile, Vicky Manue of the Foursquare Gospel Lighthouse Church thanked Pariwa and his government for the project.

Vicky pledged her assistance to people at the grassroots level. She specifically made mention of the Women SME, which can be a game- changer for the women in Madang Province.