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)