Mandiri gives MSMEs Rp 36.6b in loans

The Jakarta Post , Jakarta | Thu, 06/19/2008 9:58 AM | Business

Bank Mandiri signed cooperation agreements Wednesday with three firms to provide low-interest loans worth Rp 36.6 billion (US$3.95 million) for micro, small and medium enterprises (MSMEs) under their supervision.

The firms are PT Frisian Flag Indonesia, PT Indocement Tunggal Perkasa and PT Sinjaga Santika Sport.

At a press conference in Jakarta, Mandiri's micro and retail banking director, Budi G. Sadikin, said, "of these loans, Rp 28 billion will be channeled to 1,500 dairy farmers supervised by Frisian Flag in Bandung (West Java), Boyolali (Central Java) and Blitar (East Java)".

Frisian Flag human resources and corporate affairs director Hendro H. Poedjono said the loans were expected to help increase dairy farmers' annual production by 30 tons, based on calculations that they could use the money to buy 2,300 more cows.

Budi said another Rp 4.5 billion would be allocated for MSMEs supervised by Indocement in Cirebon and Bogor (both in West Java) and Tarjun, Kalimantan.

"And the remaining Rp 4.13 billion will be allocated to support 500 soccer ball producers in Majalengka, West Java," he said.

This year, under its Corporate Social Responsibility (CSR) programs required by the government, Mandiri set aside Rp 160 billion (2 percent of last year's net profits) to support the development of SMEs, Budi said.

"Of the Rp 160 billion, we will allocate Rp 80 billion toward low-interest partnership loans, and Rp 80 billion for grants."

By the end of the first quarter, Mandiri had disbursed Rp 15.71 billion for partnership loans and Rp 1.14 billion for grants, he said.

Last year, Mandiri channeled Rp 52.83 billion in partnership loans and Rp 13.35 billion in grants.

Separately, Bank Mandiri agreed Wednesday with Yayasan Dharma Bakti Astra, a foundation established by vehicle manufacturer PT Astra International, and PPEI (an export and import development center affiliated with the Trade Ministry) to provide training in marketing, promotion, and research for MSMEs.(rff)

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