Agritech Data Enables Loans for Farmers in Papua New Guinea

Thursday 31 Mar 2022 | AgriTech | AgriTech solutions | Building the financial ecosystem | East Asia and Pacific | English | Financial inclusion for farmers | Papua New Guinea | Video |

In Papua New Guinea, agriculture is the most important economic activity, dominating rural areas where over 86 per cent of the country’s population resides. A key challenge facing smallholder farmers in the country is poor access to formal financial services such as loans for agricultural and non-agricultural needs. Lacking access to economic identities, farmers remain financially excluded and often rely on costly and mostly informal credit.

This video highlights the importance of partnerships and data sharing between agribusinesses, agritechs and financial service providers in Papua New Guinea. Partnerships allow the creation of economic identities that previously unbanked farmers can use to access financial products and services.

To gain a deeper understanding of GSMA’s activities in Papua New Guinea aimed at enabling access to credit for farmers, please refer to our published case study, ‘How economic identities facilitate lending to smallholder farmers: the case of Rural Loan in Papua New Guineaor contact the GSMA AgriTech team at agritech@gsma.com to join the discussion.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.