E. Timorese get loans

E. Timorese get loans

DILI, East Timor (JP): The state oil and gas company Pertamina
is providing Rp 298.5 million (some US$135,374) in soft loans for
small-scale businesses and cooperatives in this province to help
improve their financial structures.

Agreements on the loans were signed by Pertamina's head for
production and procurement activities in the province, Mahdi A.
Hasjmy, and representatives of the small businesses and
cooperatives, Jeremias Soares and Juliana da Costa Soares, in a
ceremony here last week.

Mahdi said that the loans will have a maturity of three years
and carry an interest rate of four percent per annum.

"The credits, which will be accompanied by technical
assistance, will be distributed to 27 small entrepreneurs and
cooperatives in East Timor," he said.

He said Pertamina will use the funds from the loan repayments
as loans for other small businesses and cooperatives in the
province.

Mahdi said Pertamina has thus far provided Rp 22 billion in
loans for small businesses and cooperatives in the province.
(yac/fhp)