{
    "success": true,
    "data": {
        "id": 1395034,
        "msgid": "cheap-loans-for-small-firms-and-cooperatives-1447893297",
        "date": "1998-10-24 00:00:00",
        "title": "Cheap loans for small firms and cooperatives",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Cheap loans for small firms and cooperatives JAKARTA (JP): The government announced on Friday it had allocated more than Rp 10 trillion (about US$1.3 billion) for heavily subsidized loans to small and medium businesses and cooperatives, and another Rp 100 billion for ailing public transportation companies in major cities.",
        "content": "<p>Cheap loans for small firms and cooperatives<\/p>\n<p>JAKARTA (JP): The government announced on Friday it had<br>\nallocated more than Rp 10 trillion (about US$1.3 billion) for<br>\nheavily subsidized loans to small and medium businesses and<br>\ncooperatives, and another Rp 100 billion for ailing public<br>\ntransportation companies in major cities.<\/p>\n<p>Coordinating Minister for Economy, Finance and Industry<br>\nGinandjar Kartasasmita said the transportation companies had to<br>\nbe given the cheap credit facilities, with an interest rate of 6<br>\npercent, because they had no freedom to offset the soaring prices<br>\nof imported auto components by raising fares as the latter were<br>\nregulated by the government.<\/p>\n<p>\"The public transportation sector is a vital part of the<br>\neconomy,\" he told reporters following a meeting of the Economic<br>\nand Finance Resilience Council.<\/p>\n<p>The country's public transportation sector is heading toward<br>\nthe buffers as prices of imported auto components continue to<br>\nsoar in the wake of the sharp plunge of the rupiah.<\/p>\n<p>The government also said in a statement that it had allocated<br>\nmore than Rp 10 trillion in cheap loans to help small and medium<br>\nbusinesses and cooperatives survive the year-long economic<br>\ncrisis.<\/p>\n<p>It said that the loans, which had an average interest rate of<br>\n16 percent, would be channeled through 14 micro credit schemes<br>\noffered by participating banks, cooperatives, and certain non-<br>\ngovernmental organizations across the country.<\/p>\n<p>Credit for the small and medium businesses would cover almost<br>\nall sectors, with loans ranging from Rp 5 million to Rp 3<br>\nbillion, and repayment terms from one to 15 years, the statement<br>\nsaid.<\/p>\n<p>It added that the credit limit for working capital of small<br>\nbusinesses was limited to Rp 5 million with a one-year repayment<br>\nterm, while for investments it was limited to Rp 25 million with<br>\na five-year repayment term.<\/p>\n<p>The government also said that the cheap loans would be given<br>\nto the country's rural banks to help them survive the current<br>\ncrisis. (rei\/prb)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/cheap-loans-for-small-firms-and-cooperatives-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}