The Asian Development Bank (ADB) has set aside US$85m to finance export oriented small- and medium- sized enterprises (SMEs) in Indonesia, according to its Technical Assistance and Monitoring Units (TAMU).
Kjell Olsen, the coordinator of TAMU, which was formed to support ADB's SME development projects, said that the Small Exporter Investment Facility (SEIF) provided a long-term loan of eight years, including a grace period of three years for export-oriented SMEs.
SEIF is part of the ADB's SME Export Development Project (SMEEDP) programme.
Olsen said the maximum credit was between US$600 and US$1m for an exporter enterprise with varying interest rates.
He said the ADB cooperates with state-owned PT Bank Ekspor Indonesia in the distribution of funds under SMEEDP.
Source: Asia Pulse
