IFC opens new office in Makassar<\/p>\n
The Jakarta Post\/Jakarta<\/p>\n
The International Finance Corporation (IFC) opened in Makassar,
\nSouth Sulawesi, a new regional office as part of its program to
\nhelp small and medium enterprises (SME) in the eastern part of
\nIndonesia on Tuesday.<\/p>\n
The office, one of IFC's five regional offices located in the
\ncountry, will provide targeted technical assistance to improve
\nthe livelihoods of farming and coastal communities across Eastern
\nIndonesia, according to a press release.<\/p>\n
The program, called PENSA or Program for Eastern Indonesia SME
\nAssistance, a five-year technical assistance program, is co-
\nfunded by IFC and the governments of Australia, Canada, Japan,
\nSwitzerland and the Netherlands.<\/p>\n
"Combining PENSA's grant-funded technical assistance with
\nIFC's investment capability gives us a powerful tool to support
\nsmaller companies that are so important to poverty reduction,"
\nsaid IFC senior manager for the East Asia Pacific region Tim
\nKrause.<\/p>\n
IFC, the investment arm of the World Bank, manages the US$22
\nmillion initial funding to provide training and assistance aimed
\nat improving SMEs capacity and competitiveness.<\/p>\n
In Makassar, PENSA's work covered agriculture sub-sectors such
\nas cocoa, maize, poultry and seaweed.<\/p>\n
The program was initially launched in September last year by
\nIFC and the Indonesian government.<\/p>\n
The PENSA was said to focus on business sectors which have
\n"regional comparative advantages", such as furniture and
\nhandicrafts in Denpasar (Bali), mining in Balikpapan (East
\nKalimantan), and agribusiness in Makassar (South Sulawesi).<\/p>\n
It would also conduct various training programs for banks and
\nother financing institutions in Surabaya, East Java, to create a
\nwider financial access for SMEs.<\/p>\n
However, although the national program was launched last year,
\nthe program for South Sulawesi had just recently been launched by
\nGovernor Amin Syam on Tuesday.<\/p>\n
PENSA is one of 12 IFC-managed SME facilities, joining others
\nin Africa, the Mekong region, China's Sichuan province, Southeast
\nEurope, South Asia, Pacific Islands, North Africa, Latin America,
\nSri Lanka and the Middle East.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ifc-opens-new-office-in-makassar-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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