In an effort to help develop and empower small-to medium-sized enterprises (SMEs), a Jakarta unit of an agency designed to promote SMEs access to financing was launched on Thursday.
The launch of the agency, named Promoting Enterprise Access to Credit (PEAC), followed the setting up of a similar agency in Surabaya in December.
PEAC is jointly sponsored by Swiss Foundation for Technical Cooperation (Swisscontact) and the Eastern Indonesia Small and Medium- sized Enterprise Development (PENSA) - an affiliation with the World Bank's private arm, the International Finance Corporation (IFC).
"The existence of PEAC is to provide a (financing) bridge to SMEs," said Swisscontact's resident representative, Peter Bissegger.
