The National Development Bank (NDBP) is encouraging Palauans to avail of the funding opportunities to support sustainable aquaculture and agriculture in Palau.
At a press conference on January 18, board members of the NDBP said that there is $5 million dollars from the bank provided by the Taiwan government to help aquaculture and agriculture projects.
The NDBP board said, so they have provided loans to 24 costumers and have 20 prospective customers.
The bank is encouraging farming customers and food production in Palau to utilize the loan opportunities.
Board members said the loan is given at very reasonable interest rate of 3.5 percent. Customers that qualify for $10,000 or less loans, can get the loan unsecured, meaning no collateral is needed.
Loan Manager Harley Fletcher in the press conference said that the program was created with the help of President Remengesau Jr. to focus on Palauans who are interested in starting their farming business. The enhancement of aquaculture and agriculture in Palau will also contribute to national health and food security.
“It’s available to those that are starting or those that want to expand their current farming business. The program is very broad and covers all different types of farming,” Fletcher
The NDBP also announced that on February 03, 2017 there would be Agriculture & Aquaculture fair in Bethlehem.
At the fair, people from the Bureau of Agriculture & Marine resource departments will be there to help assist those interested in farming.
The fair will showcase fruits, vegetables and fish for sale from Palauan fish and fruit farmers. [/restrict]