Newsletter
Thank you for promptly forwarding me your loan application form. Our organization 'Peoples Action For Rural Development Inc.(PsAfRD) operated a women focused microfinance program called 'Village Women's Banking Program (VWBP)' from 2009 to 2017. Our VWBP was funded by the European Union and the PNG Government to pilot test the village bank methodology to determine its suitability to PNG social and economic contexts, while concurrently we tried to trial the VWBP as a financial facility for ease of accessibility and sustainability. From 2009 to 2013, the VWBP facility served up to 5,000 poor village women, disbursed 8,500 micro- to small loans, totaling US$3.136m. Our total outstanding loan portfolio is US$1.344m. As the demand for credits by MSMEs is high, we need to create a new Blended Finance Vehicle to finance local companies in agri-business, forestry sector businesses, fisheries sector businesses, and small to medium alluvial gold mining ventures, for extracting and processing products, and also SMEs in the retailing sector; this is estimated to be 30,000 local companies to be financed. We would like to call the Blended Finance Vehicle, the Community Commodity Finance (CCF). CCF will diversify its products and services and explore the market in the Indo-Pacific Region. CCF will initially need a catalytic private or development investment of US$10.00m in order to attract investment capital from the PNG Government, other development institutions, and the philanthropic sector. The Blended Finance structure will be in either debt, equity, or grants. Capital Financing Fund to quickly respond to this early development of the CCF can strengthen the long term mutual business relationships and Capital Financing Fund can engineer the growth of the Community Commodity Fund (CCF) in the Indo-Pacific Region. The CCF will be the first Blended Finance Vehicle (CCF) created in Papua New Guinea for the Indo-Pacific Region. Convergence and Pfan, international consultants in Blended Finance are currently working with PsAfRD and VWFS Ltd to draw private investors into the CCF, Blended Finance Vehicle.PsAfRD is a partner of the Bank of Papua New Guinea in the Centre for Excellence in Financial Inclusion (CEFI), a Participating Financial Institution (PFI) in the Microfinance Expansion Project funded by the ADB, the PNG Government, and the Government of Australia. The Bank of PNG had technically support the institutional capacity of PsAfRD and the Village Women's Financial Services (VWFS) Ltd, a subsidiary of PsAfRD, owned by the poor village women entrepreneurs. The CCF and VWFS will both bank licenses from the Bank of PNG once the Capital Financing Fund invests in the Blended Finance Vehicle, the CCF.Thanks Jeeferson, for prompt action in forwarding the Loan application form. Regards. Mr Joseph Pumai, Chairman/Executive Director/Managing Director: PsAfRD/VWSF Ltd/CFF
Village Women's Financial Services Ltd is trying to do a blended financial vehicle to bring DFIs, philanthropic development oriented organisations, and private investors to contribute to its brand 'Community Commodity Finance (CCF)' to kick-start new commodity markets. These new markets are differentiated from the existing MSMEs because the new markets are segmented for women MSMEs and developed on a social interactions platform where new planned social relationships are promoted to achieve a new behaviour of high entrepreneurship spirit. Your micro- and small enterprises are transformed to formal micro- and small businesses. To have access to communication channels you registered your phone sim so likewise to access many other technical, business, and financial services, you try to register your business name and subscribe to many social, economic, and environmental networks and institutions.
VWFS will network 100,000 women owned MSMEs in the Indo-Pacific Region. Investors whose development impacts foci are gender equality, decent work & economic growth, reducing inequalities, and climate change mitigation and adaptation should promptly engage in this new blended finance.
Contact:
Joseph Pumai
Programs Director
email: jppard16@gmail.com