2 Sep 2005

Rural fishers in PNG helped by EU sponsored finance scheme

10:20 am on 2 September 2005

Rural fishermen in Papua New Guinea have been given almost 20,000 US dollars by the first European Union sponsored micro finance scheme with the Rural Development bank.

The EU funds will be given to the RDB under the Rural Coastal Fisheries Project that can loan up to 350 US dollars to fishermen for fishing equipment.

The initial funding will be for 24 weeks provided all loans are repaid within the terms approved.