The village of Gabagaba in Papua New Guinea's Central Province is the first to benefit from the province's fisheries credit scheme.
It is a joint project of the National Fisheries Authority and the National Development Bank.
The bank will provide cheap loans to the province's small fishermen, and has already approved 15 loan applications amounting to US$12,500.
The NDB's executive manager, Rodd Hoffman, told The National people would see a lot of development in the village, if everyone worked together.
The Central government has allotted a counter-funding of over 35 000 US dollars which the bank will hold as security.