Farmers receive Rp 3.4b loan

TANGERANG (JP): Local farmers grouped in 96 community units have been selected to receive a Rp 3.4 billion loan under the government-sponsored staple food resilience improvement program in the current fiscal year, an official said on Tuesday.

The head of the regency agriculture office, Yodi Roshidi, said 97 percent of the loan would be used to help farmers increase production and improve their management.

Yodi said that under the program, each farmer unit would elect a manager to be responsible for the utilization of the fund.

Each unit will receive Rp 36 million to cultivate an average 25 hectares. The loan package has an 18 percent annual interest rate and a maturity period of 12 months.

The fund will be transferred to another group in the next fiscal year.

The farmer groups selected come from Teluknaga, Sepatan, Kosambi, Pakuhaji, Mauk, Kronjo, Kresek, balaraja, Cisoka and Cikupa districts. (41)