Youth entrepreneurs in PNG's Vanimo-Green to benefit from K1 million SME initiative

Hundreds of young people in PNG's Vanimo-Green district are expected to benefit from a new K1 million SME loan program aimed at helping trained youths establish businesses and create long-term sources of income.

Vanimo Green MP Belden Namah

The funding package, announced during the launch of the Vanimo-Green Youth Engagement Initiative, targets young entrepreneurs who have completed financial literacy and business-related training and are ready to venture into sectors including farming, cocoa, fisheries, oil palm, tourism and informal trading.

Vanimo-Green MP and Tourism, Arts and Culture Minister Belden Namah unveiled the initiative at Vanimo Secondary School before government leaders, district officials and members of the public.

The launch was attended by Community Development, Youth and Religion Minister Jason Peter, Sanduan Provincial Administrator Jacob Areman, NYDA Director-General Joe Itaki, representatives of the Vanimo-Green DDA, students, parents and public servants.

Mr Namah said although the National Youth Development Authority had been entrusted with leading youth development across the country, it had not received the level of financial backing it deserved.

He said his district had therefore entered into a partnership with NYDA and other organisations to provide practical support that would encourage youths to pursue productive livelihoods.

Mr Namah said the program represented the district's commitment to delivering the National Youth Development Strategy 2025-2029 on the ground.

He added that all loan applicants would first be screened and processed by the NYDA before funds were released.

Minister Peter described the initiative as an opportunity for young people to strengthen their leadership abilities, develop practical skills and pursue their future goals.

"It is not just a launch but opening doors to leadership, skills development, community participation and realising of dreams."

Mr Itaki said the online youth registration platform under the National Youth Engagement Strategy would be central to selecting eligible applicants and monitoring their progress throughout the program.

He said the partnership would place strong emphasis on mentoring and continuous guidance to improve the chances of success for young business owners.

"NYDA and Vanimo Green DDA will identify applicants through this system and maintain engagement with them as they venture into the SME sector. It will not be like other loan schemes where recipients receive a one-off payment and disappear. Under this partnership, guidance and mentorship throughout the process will be key because we want them to grow their businesses. Through the online system, we will know who is doing what and measure their progress in a timely manner," Mr Itaki said.

"The DDA and NYDA in partnership with Mama bank will track and offer coaching in areas of weakness.....our ultimate aim is to see them progress with business with the SME loan that we facilitate under this scheme."

"The first batch of loan applications will be assessed next month."

"With such tripartite arrangement, accountability and governance are upheld highly in the process so that the scheme is tightly managed to empower the unfortunate people in the electorate fairly. This reflects the notion of 'leaving no one behind'."