Thursday, October 27, 2011

NDB loans to business women near K10mil

Source: The National, 26th October 2011

THE National Development Bank has already extended K7.1 million in loans to businesswomen and is on track to hit K10 million by the end of the year, bank chairman William Lamur revealed last Wednesday night.
Speaking during the board of director’s dinner he hosted and attended by Agriculture Minister Sir Puka Temu and his secretary Anton Benjamin, Lamur said the lending level to women was the highest ever since the bank was created in 1967.
“This represents 25% of our total lending in 2011,” he said, adding that “women manage funds better and they are good payers”.
“We now have 50 women commercial banking clients, the first time in our history to reach such a milestone when you consider only eight at the end of 2010 and the number is growing following the drive under our Women in Business Strategy,” the chairman said.
Lamur said the bank had a solid and record breaking performance this year (see other story) and his board and management were satisfied that NDB could be used by the government to be the “key wealth-creation vehicle if the government was serious about empowering our citizens to generate wealth from the vast opportunities the economic boom was now going to provide for our country”.
He urged the government to allocate a further K50 million if it desired to have micro-bank branches in all provinces.
Lamur said Boroko, Madang and Wewak micro-bank branches were being constructed at the cost of K15 million.

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