WAMENA, PAPUA PEGUNUNGAN – In order to encourage the growth of the Micro, Small and Medium Enterprises sector and the development of local businesses, the Provincial Government of Papua Mountains and Bank Papua made a joint agreement on the implementation of the Regional Financial Access Acceleration Program Credit, held at the Governor of Papua Mountains Provincial Office.
Signed by the Acting Governor of Papua Mountains Province Velix Vernando Wanggai and Bank Papua Business Director Sadar Sebayang, this joint agreement aims to encourage regional economic growth and improve the welfare of local communities through providing easier and more affordable access to financing.
The Acting Governor of Papua Mountains said, “We believe that the various financing schemes available at Bank Papua will be very in line with our vision and mission, one of which is to raise the Micro, Small and Medium Enterprises sector, therefore we, the Provincial Government of Papua Mountains and Bank Papua, signed this joint agreement on accelerating the development of regional financial access, which we call the Regional Financial Access Acceleration Program credit and for that later we will jointly encourage Micro, Small and Medium Enterprises in Papua Mountains.” said Velix.
Through his remarks, the Director of Operations said the Regional Financial Access Acceleration Program is a credit provided to productive and viable micro businesses that do not have sufficient collateral and in order to reduce the dependence or influence of informal or illegal credit entities, “This is an important momentum that marks a real step in the efforts of the Regional Government of Papua Mountains Province together with Bank Papua to advance the regional economy through concrete financial support. We hope that this PAPEDA credit can provide positive benefits for all parties and become an alternative source of capital with a fast, easy, low-cost process and simple requirements,” said Wopari.
Bank Papua Business Director, Sadar Sebayang added that the support that will be carried out by his party is the provision of credit programs for people who want to start business activities, “Today we together with the Government of Papua Mountains have agreed to improve the community’s economy, by providing working capital so that their business can run and can develop well, hopefully this program can provide good benefits to the community for the revival of the economy in Papua Mountains.” said Sadar Sebayang.
The Credit Program for the Acceleration of Regional Financial Access Program will focus on sectors that are regional champions, such as:
- Trade,
- Fisheries,
- Agriculture,
- Plantation,
- Livestock,
- Tourism,
- Construction,
- Marine,
- Services,
- Processing industry,
- Other sectors.
In addition to support from the financing side, Bank Papua is also expected to provide assistance to local Micro, Small and Medium Enterprises in developing their business.
