Farming in Papua New Guinea (PNG) just got a big boost! Prime Minister James Marape has launched an exciting new program called the Marape Agricultural Credit Scheme, designed to help farmers and agribusinesses thrive.
So, what’s the Marape Agricultural Credit Scheme all about?
A Helping Hand for Farmers
This program offers long-term, low-interest loans to farmers and businesses involved in agriculture. That means you can get the funds you need to grow crops, raise animals, or even process food. And here’s the great part: you’ll have up to 40 years to pay it back!
To get started, you’ll need to approach the National Development Bank or partner banks with your plans and proof that you’re actively farming.
Big Goals: Marape Agricultural Credit Scheme
The scheme isn’t just about lending money—it’s about transforming PNG’s agriculture. Here’s what it’s aiming to do:
- Cut down on the K2 billion spent every year importing food from other countries.
- Help one million farming families make a living through agriculture.
- Create jobs in areas like transport, logistics, and food processing.
- Grow more food locally and even export some to nearby countries.
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Soil preparation for potato farming |
Marape's Dream Work
The program also calls for collaboration. Provincial governments, cooperatives, and local communities are encouraged to partner with the national government to revitalize farmland and set up organized farming systems.
Why It Matters
PNG is looking to shift its economy away from mining and focus more on sustainable industries like farming. This is about building a future where farmers can succeed, families can thrive, and the whole nation can benefit.
If you’re a farmer or part of an agribusiness, this could be your chance to grow something amazing—not just for yourself but also for your community.