The Jakarta Post
Saudi Arabia will provide Rp 1.4 trillion (about US$102 million) to help empower farmers and fisherfolk through the establishment of a sharia-based digital payment platform to channel the funds.
PT Indonesia Mecca Tower, which has been appointed by the Saudi Arabian government to carry out the project, will cooperate with PT Bayarind Artha Nusa Internusa to provide and run the digital payment platform, which would distribute the funds in the form of soft loans to farming and fishery corporations.
A memorandum of understanding (MoU) on the cooperation between the two companies was signed in Jakarta on Monday witnessed by chairman of the National Development Planning Agency (Bappenas), Suharso Monoarfa, who facilitated the cooperation.
Speaking to reporters following the signing of the cooperation agreement, Suharso said the digital payment would directly target 350 farming and fishery corporations across the country. He said farmers and fisherfolk could receive loans from the payment platform to meet their daily or their farming needs.
Bappenas also facilitates the establishment of the corporations, which would be owned by farmers and fisherfolks.
Currently, as many as 68 corporations have been approved to benefit from the program, out of the targeted 350 corporations within the next five years, Luwarso, a commissioner of Indonesia Mecca Tower, said after the signing ceremony. About 60 percent of those groups of farmers and fishermen are based in Java.
Suharso said the digital payment project would significantly support the government’s effort to empower the country’s farmers and fisherfolk. (ydp)