Irian gets venture capital

Irian gets venture capital

JAKARTA (JP): Minister of Finance Mar'ie Muhammad inaugurated
venture capital firm PT Sarana Irian Jaya Ventura with a paid-up
capital of Rp 3.2 billion (US$1.3 million) in Jayapura, Irian
Jaya, yesterday.

Mar'ie said the company, financed by 21 shareholders, has been
set up to provide financial assistance to small and medium-sized
enterprises in the province, particularly those owned by
indigenous people.

Minister of Cooperatives and Small Enterprises Subiakto
Tjakrawerdaya said in yesterday's inaugural ceremony that the new
venture capital firm has to be proactive in assisting small
businesses in the easternmost province.

The government has sponsored the establishment of venture
capital firms in more than 13 provinces to boost the development
of small businesses. (kod)