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NDB Loan To SMEs Postponed

TechInPacific – The loan budget allocated for the National Development Bank (NDB) is still withheld by a commercial bank, NDB Chairman Michael Mell told on Monday (24/05).

According to Mell, the K80 million will not be loaned out anytime soon to SMEs, unlike the successfully provided K100 million loan last year.

“NDB received K80 million last year and another K100 million this year, that totals to K180 million but we are not able to loan the money out because the bank is yet to get the money through the courtesy of the Commerce and Industry as part of the agreement.”

“The bank has its own processes and requirements thus it is better to get everything right so we create a win-win solution for all parties.”

Source: Postcourier.com.pg

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