Thursday, December 10, 2009

Bank of PNG, donors attend village banking graduation


“We don’t need handouts, but we badly need good roads to get our produce to the markets in town so that we generate money to care for our families”.
This was one of a number of appeals made to representatives of Bank of PNG and international donors who attended a combined village graduation in Madang recently. The villagers from north and south of Madang had completed a financial literacy training course that was facilitated by Bogia Cooperative Society (BCS) in Madang and funded under the PNG/ADB Microfinance pilot project.
Joe Hare, member of the Ving Community Development Centre along the north coast of Madang thanked Deputy Governor of Bank of PNG Loi Bakani, representatives of the Asian Development Bank, AusAID and Nationwide Microbank for their presence at Bunu village north of Madang. Madang Governor Sir Arnold Amet was unable to attend due to the budget sitting in Port Moresby.
He said they were grateful for the financial training they have received which has brought hope to the people living in the inland areas of the province who have no access to roads and other government infrastructures and services.
He said since 2006 Bogia Cooperative has established Community Development Centres (CDCs) in the disadvantage areas and introduced village banking services and training to help the people achieve some financial independence.
He said the cooperative’s efforts were recognized by the Asian Development Bank and Nationwide Micro Bank who have come in with resources to assist the project.
Mr Hare also asked ADB to continue to assist Bogia Cooperative to strengthen its institutional capacity so it can keep managing the CDCs that it has set up.
“The network has already been established between the donors, BCS and CDCs which is the way forward for rural development and poverty alleviation. Therefore we look forward to ADB’s next project to strengthen this network so we can trade our goods, save money, improve health and education for our children and the general wellbeing of our families and communities”.
Mr Hare also called on the Madang MPs to upgrade the feeder roads into the rural areas so people can take their cash crops to the markets. He also wanted the leaders to assist Bogia Cooperative with the necessary infrastructure so it can create export market links that would ensure maximum benefits go directly to the farmers.

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