E. Timor gets Rp 24b fund

DILI, East Timor: The government has channeled a Rp 24 billion (US$8.2 million) fund to help poor families in 442 villages start their own businesses, State Minister of Population Haryono Suyono said Saturday.

The fund, known as Kredit Usaha Kesejahteraan Rakyat (People's Prosperity Business Credit), or Kukesra for short, is part of the government's poverty alleviation program to help nearly five million families across the country.

The fund will be directly channeled to poor families through Bank BNI46 which works together with PT Pos Indonesia, the state post office company, whose branches are spread all over the country.

Families will initially receive a modest Rp 20,000 (US$6.70) loan, which will multiply each time it is repaid within four months, Haryono said. (33)