The Jakarta Post
The Financial Services Authority (OJK) has issued a regulation to provide special treatment for businesses in Karangasem regency, Bali, who were affected most by the recent eruption of Mount Agung.
The OJK believes special treatment is needed to help the businesses recover.
“The policy includes loan restructuring for debtors who were affected by the natural disaster,” Anton Prabowo, OJK commissioner for strategic management and logistics affairs, said in Jakarta on Wednesday as reported by kompas.com.
The policy, which is stipulated in the Council of OJK Commissioners Decision No. 20/KDK.03/2017, was issued on Dec. 29, 2017 and will be effective for three years.
According to the OJK, eight districts in Karangasem regency were affected by Mt. Agung’s eruption in November 2017, namely Abang, Bebandem, Karangasem, Kubu, Manggis, Rendang, Sidemen and Selat.
Karangasem Regent I Gusti Ayu Mas Sumantri has previously said that many debtors in the regency were hoping to restructure their debts to ease their financial burden following the eruption.
Tourist arrivals in Bali has dropped to 2,000 visitors per day from the usual 15,000 since Mt. Agung began showing volcanic activity, according to Tourism Minister Arief Yahya. (bbn)