{
    "success": true,
    "data": {
        "id": 1144786,
        "msgid": "year-of-microfinancing-campaign-launched-1447893297",
        "date": "2005-02-27 00:00:00",
        "title": "Year of Microfinancing campaign launched",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Year of Microfinancing campaign launched Muninggar Sri Saraswati, The Jakarta Post, Jakarta The government officially kicked off on Saturday the Year of Microfinancing, a campaign to empower micro, small and medium- sized businesses (SMEs). In his speech to mark the launch of the nationwide campaign, President Susilo Bambang Yudhoyono stressed the significant role the sector would play in the drive to reduce unemployment and poverty.",
        "content": "<p>Year of Microfinancing campaign launched<\/p>\n<p>Muninggar Sri Saraswati, The Jakarta Post, Jakarta<\/p>\n<p>The government officially kicked off on Saturday the Year of<br>\nMicrofinancing, a campaign to empower micro, small and medium-<br>\nsized businesses (SMEs).<\/p>\n<p>In his speech to mark the launch of the nationwide campaign,<br>\nPresident Susilo Bambang Yudhoyono stressed the significant role<br>\nthe sector would play in the drive to reduce unemployment and<br>\npoverty.<\/p>\n<p>With small-scale businesses numbering at an estimated 42<br>\nmillion across the country, he said, &quot;if each business in this<br>\nprogram manage to absorb just one extra worker, then this sector<br>\nalone would be able to employ an additional 42 million workers.&quot;<\/p>\n<p>Under the campaign, in line with the United Nations-led Year<br>\nof International Microfinancing program, some Rp 50 trillion in<br>\nbank loans is to be distributed to businesses across the country.<\/p>\n<p>The government hoped the loans would reduce the current<br>\nunemployment and poverty rate, from 16.6 percent to 8.2 percent,<br>\nand from 9.7 to 5.1 percent, respectively.<\/p>\n<p>At the ceremony Coordinating Minister for the Economy Aburizal<br>\nBakri said the banking sector had set aside about Rp 60.4<br>\ntrillion this year in total loans for micro, small and medium<br>\nbusiness -- part of a planned credit expansion totaling Rp 106<br>\ntrillion.<\/p>\n<p>&quot;The empowerment of micro, small and medium businesses is<br>\ncrucial to our economy as a whole. Annually, (the sector)<br>\ncontributes between 2 to 4 percent to GDP growth,&quot; Aburizal said.<\/p>\n<p>Saturday&apos;s ceremony was also marked by the signing of the<br>\nfirst loans, amounting to Rp 164.62 billion, between 11<br>\nbusinesses and several banks.<\/p>\n<p>Elsewhere, Susilo urged Bank Indonesia and the banking sector<br>\nto find ways to lower loan interest rates gradually to boost<br>\nSMEs&apos; access to financing.<\/p>\n<p>Among the main problems faced by small-scale businesses are<br>\naccess to financing, a high-cost economy, lack of technological<br>\ncapabilities, lack of good management and entrepreneurship,<br>\nunfair competition from larger businesses and a lack of industry<br>\nassociations.<\/p>\n<p>The campaign will also include exhibitions in about 12 host<br>\ncities across the nation, which will involve hundreds of SMEs.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/year-of-microfinancing-campaign-launched-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}