The Indonesian government and the Asian Development Bank (ADB) will channel US$85m in loans for small- and medium-scale exporters across the country by the end of this year in a bid to promote economic growth and job creation.
Small and medium enterprises (SMEs) form the backbone of the Indonesian economy. Government records show that in 2002, SMEs totalled 3.03 million across the country, or 95.78 percent of the country's total business units, and absorbed 11.89 million jobs.
"The government has appointed Bank Ekspor Indonesia to administer the loans," Agus Tjahajana, Director General for Small and Medium Enterprises at the Ministry of Industry and Trade, was quoted on Friday by The Jakarta Post as saying.
