Bank lends support to SME policy launching

Minister for Trade, Commerce and Industry Richard Maru says private public partnership is the way forward to grow the Small Medium Enterprise (SME) industry in the country.

“All financial institutions must collaborate with the Government to help provide access to finance, training and development for local SMEs,” Maru said.

 Maru’s ministry will be launching the country’s first SME Policy and Master Plan this Thursday.

Bank South Pacific is backing the program with K50,000 today in Port Moresby.

The policy details the O’Neill-Dion Government’s plan to support and establish 500,000 SMEs by the year 2030.

BSP Area Manager Southern Region, Nuni  Kulu when presented the sponsorship to Minister Maru said the bank promotes SMEs growth through its products and services.

BSP supports 15,000 SME customers. In 2015, it provided K37 million in loans to its SME customers under its Smart Business Product. 

“We have a commitment to PNG SMEs by providing financial solutions and also supporting Government initiatives,”Kulu said.

 

Author: 
Charles Yapumi