In another attempt to speed up the poverty eradication drive, the House of Representatives approved on Monday plans to set aside Rp 3,100bn (US$365m) of working capital for small- and micro-scale businesses.
The funds, taken from government proceeds from its domestic bond sales, will be distributed through state banks and other state financial institutions’ networks across the country over a seven-year period.
The decision was taken during a hearing between legislators at the House Commission IX on financial affairs and a government delegation led by Darmin Nasution, director general for Financial Institution at the Ministry of Finance.
The state institutions appointed to distribute the low-interest funds are differentiated into two groups.
