The Fisheries sector is one area with great potential to generate income for the people of Papua New Guinea. To ensure that people from all sectors of the community participate meaningfully to generate revenue for themselves and the community they live in, National Fisheries Authority and National Development Bank have an agreement in place where NFA has made funds available for NDB to provide loans to interested people willing to venture into the fishing business.

To expand the National Fisheries Credit Facility to all sectors of the community in the country, NDB has already funded projects in Morobe Province and is already looking at expanding it to other provinces as well.

The National Development Bank having realized the potential in the Central Province has finalized agreement between the Central Provincial Government and the Gabagaba Fishermen Association to provide loan assistance to the fishermen of Gabagaba Village.

The loans are to assist fishermen purchase fishing gear and equipment to improve their catch output and also improve in quality control, which in turn will increase revenue.

Under this agreement the Central Provincial Government has allocated counter funding of K100, 000.00 which will be held by the Bank as security. The National Development Bank will then provide loans to the people of Central Province to assist start up new Fishing Business or improve and expand on their existing business.

The success of the Gabagaba Fisheries Project will pave a way for the Bank to extend these services to other Districts of the Central Province and to other provinces as well.

National Development Bank is prepared to assist the bulk of our population in the rural areas with such projects, providing that bank requirements are met. Small fisheries projects of this level can make a big difference in the future so the bank encourages Papua New Guineans to make use of the opportunity to establish for themselves a prosperous and sustainable living.

Deputy Administrator for Central Provincial Government (left) presenting a dummy cheque to Executive Manager, Lending, NDB(right)