Thu, 11 Aug 1994

Loan for civil servants

JAKARTA (JP): Bank Bumi Daya, a state-owned bank, and Bank Kesejahteraan Ekonomi, will jointly provide housing credits for members of Koperasi Pegawai Negeri (KPN), a cooperative of civil servants.

Under an agreement signed here yesterday, the two banks will provide a credit line of around Rp 70 billion (US$33.34 million) to the cooperative, which will use the funds to finance housing for its members.

Bank Bumi Daya president Iwan R. Prawiranata said that the housing loans are available for KPN members in Central Java, Yogyakarta, East Java and East Nusa Tenggara.

Sumitro Djojohadikusumo, the founder of the cooperative, said that KPN, which boasts some four million members, will also sign a similar agreement with the state-owned Bank Dagang Negara to provide housing credits for the cooperative's members in West Java, Sumatra, Sulawesi, Maluku and Irian Jaya. (hen)