Sat, 12 Apr 2003

Small-scale businesspeople get aid

JAYAPURA, Papua: Bank Papua will make available loans totaling Rp 555 billion (US$62.5 million) to small-scale businesspeople in different sectors this year.

Onesias Fairyo, director of the bank, said on Friday the amount of loans to be provided this year was an increase from the Rp 486.9 billion allocated last year, when credit arrears reached only Rp 7.8 billion or 1.48 percent.

The sectors covered by the small-scale business aid package include agriculture, mining, industry, electricity, gas, water, construction, transportation, hotels/restaurants and social services.

Onesias said businesspeople requiring loans of no more than Rp 5 million were subject only to business feasibility assessments and did not have to provide collateral.

Bank Papua, established 37 years ago and now with 67 branch offices around the province, changed its status last year from a regional company to a limited liability company in order to enhance its service. --JP