Agritech Data Enables Loans for Farmers in Papua New Guinea
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 contact the GSMA AgriTech team at email@example.com to join the discussion.