Women’s Micro Bank also known as Mama Bank have launched the Revolving Fund for Agriculture Value Chain Financing.
The new and unique product aims to empower Agri-exporters, Agri-SMEs, and small holder farmers in rural areas in PNG. The product of a revolving fund will provide access to credit facilities to the exporters that offer demand driven approach of financing and repayments with other benefits.
Mama Bank says the project aims to increase the export of quality coffee, copra, cocoa and vanilla where in women-led SMEs to be an active player in the supply-chain by working with exporters, in return supporting livelihoods under the Australia-Papua New Guinea Economic Partnership program.
Mama Bank CEO, Gunanidhi Das, acknowledged the support provided by APEP, highlighting that it will go a long way in supporting women in PNG.
“This partnership presents a new beginning and opportunity to achieve significant goals in collaboration with APEP and bring a robust product for Mama Bank within and after project period”, he stated.
Counsellor (Economics) Australian High Commission PNG, stressed on the importance of supporting financial services such as Mama Bank to effectively engage with smallholders and small businesses, enabling all to achieve financial inclusion.
Director Australia - Papua New Guinea Economic Partnership, Jagdeep Dahiya added that the partnership will have a positive impact on the agricultural value chain by focusing on the link between market and exporter. And added that the revolving fund is a definite opportunity for Mama Bank to establish themselves in the space of agriculture financing, which is not an easy task across the world.
Mama Bank is committed to honoring this partnership agreement to provide the best financial services to smallholders and Agri-SMEs throughout the country through their exporters.