Govt aids small ventures

Govt aids small ventures

JAKARTA (JP): The government is allocating Rp 68 billion in
revolving funds to be channeled to 1,000 groups of small-scale
entrepreneurs, Minister of Cooperatives and Small Enterprises Adi
Sasono said on Wednesday.

"We (the ministry) received Rp 68 billion in addition to our
expenditure budget to develop the Institute of Productive Economy
for Self-Sufficient Society," Adi told a media briefing.

Each of the 1,000 groups will receive Rp 59 million to be used
to develop their businesses. Group, comprising at least 50
people, can operate in production, distribution or savings and
loans businesses, he said.

Adi said the government would also provide a microcredit
scheme for urban small businesses, such as street vendors, which
in the past were faced with procedural barriers in obtaining bank
loans.

The credit scheme is in addition to the 16 other schemes
offered by the government to small and medium-scale businesses.
(das)