Rp 1.67t allocated for SMEs: Minister
The Jakarta Post, Jakarta | Mon, 02/13/2012 5:56 PM
Cooperatives and Small and Medium Enterprises Minister Syarief Hasan announced that more than Rp 1.67 trillion (US$185.37 million) of funding has been allocated for 238,776 micro, small and medium enterprises since September 2008.
“The allocated loans increase every year,” Hasan said during a hearing at the House of Representatives on Monday.
In 2008, total loans allocated amounted to Rp 35.125 billion.
In 2009, the allocation increased to Rp 210.424 billion, followed by Rp 410.904 billion in 2010.
Last year, the allocation reached Rp 1.014 trillion.
The loans were distributed to 38 cooperatives, 852 small cooperatives, 66 companies with venture capital and banks, and 10 strategic small-medium enterprises.
Hasan was quoted by tempo.co as saying that the distribution of the loans has created 373,740 jobs.
The level of non-performing loans slightly rose from 0.18 percent to 0.51 percent, but still below the tolerance limit of 15 percent stated on the business plan and in the 2011 budget. (nad)
