Lake Murray Village Rubber Project PDF Print E-mail

Rubber

In 2005 the Company committed a total of K12.8 million funding to finance the development of 2,200ha of smallholder rubber in the Lake Murray area. The funding comprised a K7.1 million development grant and K5.7 million for sustenance loans to growers. The project is managed by North Fly Rubber Ltd and the loan facility is being administered by PNG Microfinance Ltd. Over 1,000 families have planted 1,084ha of the planned 2,200ha.

An impact assessment of the project has indicated that the project represents the single most important cash crop to stimulate growth of the local economy of the Lake Murray area.

In June 2008 over 500 people, including nonparticipating rubber growers, met and expressed overwhelming support for the continuation and extension of this project to cover all villages in the Lake Murray area. Growers unanimously acknowledged the positive impact of the rubber project on the families through sustenance loans, subsidized tools and increased income. The 6-year planting phase of the project will end in December 2010. The project has currently accomplished 50% of rubber planting.

Last Updated on Wednesday, 17 June 2009 05:52
 

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