Soft loan for the poor

Wed, 15 Jul 1998, 00:00 WIB | Source: JP

TANGERANG (JP): The mayoralty has allocated Rp 2 billion in
soft loans to help poor families start or develop businesses to
survive the economic crisis.

The loans have a 12 percent interest rate and are provided by
Bank Negara Indonesia in cooperation with the National Family
Planning Board (BKKBN).

As much as Rp 836 million of the funds have already been
channeled to 109 farmer groups, with each receiving between Rp
50,000 (US$3.33) and Rp 5 million, local BKKBN chief Hikmatullah
said Monday.

Tangerang Mayor Djakaria Machmud said the assistance would
mostly go to roadside vendors.

"Food vendors and craftsmen will get priority in the credit
scheme," he told Antara. "The loan should be disbursed as soon as
possible."

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