Capital firm set up

Capital firm set up

JAKARTA (JP): Minister of Finance Mar'ie Muhammad inaugurated on
Saturday one more venture capital company, called PT Sarana Bali
Ventura, which has been established with a basic capital of Rp
28.14 billion (US$12.8 million) in Denpasar, Bali.

"By April 1995, each of the country's 27 provinces is expected to
have a venture capital company to support the operation of small
and medium businesses," Mar'ie said in a ceremony for the new
firm's inauguration in Denpasar.

As reported by Antara, the minister said the operation of venture
capitals in each of the country's provinces is important to support
small businesses, which generally have low access to credits from
commercial banks.

The establishment of Sarana Bali Venture, the seventh venture
firm set up in the last six months, is sponsored by PT Bahana Artha
Ventura, a subsidiary of a state-owned venture capital company, as
well as 59 local business people. (riz)