CEFI and FPDA sign partnership to improve farmers’ access to financial inclusion services

Transitioning from semi-subsistence fresh produce farming to market oriented agriculture business is a challenge many farmers in Papua New Guinea face.

Coupled with limited financial services and products and poor money management skills, it can be overwhelming for farmers to grow and sustain their farming business.

This challenge will now be improved through strategic partnerships established between the Centre for Excellence in Financial Inclusion (CEFI), Fresh Produce Development Agency (FPDA), and Government of Papua New Guinea under the project, Market for Village Farmers (MVF).

CEFI Executive Director Saliya Ranasinghe and FPDA General Manager Mark Worinu today signed a 5-year partnership agreement for CEFI to facilitate access of 25 000 farming households to financial training, services and products across Western Highlands Province, Jiwaka, Simbu and Eastern Highlands Province in the Highlands region and Morobe and East New Britain Provinces.

CEFI with its partner training providers and financial institutions will educate fresh produce farmers on money management skills, develop community-level savings and innovative lending schemes that will pave the way to support farmers to build a strong savings culture and grow their businesses into viable commercial businesses.

CEFI Executive Director Saliya Ranasinghe and FPDA General Manager Mark Worinu presenting the 5-year partnership agreement.

 “CEFI has recruited full time staff and will open an office in Goroka this month to administer the financial inclusion activities that will undertake under MVF.”

“We will also work with financial institutions to develop suitable agriculture lending products for the sector as well as digitising payment for farmers.” Said Ranasinghe

General Manager Worinu stated MVF will adopt a family-based targeting approach to increase the capacities of participating farming households, and especially of women and youth, to take advantage of project benefits, through financial, business and nutrition education.

“The approach will also be used to engage the community to create a supportive environment for household level activities and to support broad inclusion and we’re positive of the impact of this project.” Worinu says.

Market for Village Farmers (MVF) is valued at $USD38 million (PGK127 million) and is executed by the Government of Papua New Guinea through the Department of Agriculture and Livestock (DAL) and implemented by FPDA, with funding from the International Fund for Agricultural Development (IFAD).

For further information, including access to related materials, please contact CEFI communications and stakeholder engagement team: +675 3225300 or email info@thecefi.org

6 Replies to “CEFI and FPDA sign partnership to improve farmers’ access to financial inclusion services”

  1. Good initiative. I have been struggling as a small scale farmer. This is the opportunity will boost my farming activities. Thank you CEFI, FPDA, DAL through MVF & PNG Government.

  2. Its a great move by CEFI and FPDI and support funds from DAL and
    IFAD. Ensurre, same initiative and funds applies to all the highland farmers in rural areas.

    Secondly, is there any partnership funds with PNG TPA and CEFI or DCI?? Thank you

  3. A great initiative to empower farmers in order for them to make wise financial decisions to improve their livelihoods.

  4. I need assistance to my people of Middle Sepik Plains region to return back to rice farming as they were supplying Baiynik rice mill in Maprik in 1950s and 60s when Australian colonial administration told them not involve in planting rice anymore.

  5. Thank you CEFI, FPDA & DAL for making this a success.

    Financial Literacy is what most farmers needs to make informed choices about their income from selling cash crops.

    And do assist farmers to register their SME with IPA, IRC and open bank accounts so they can put their incomes in the bank.

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