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Jakarta Post

Government loans lag, businesses anxious

  • Adrian Wail Akhlas

    Jakarta

Jakarta   /   Mon, July 6 2020   /  01:00 am
A teller counts banknotes at Bank Mandiri office in Jakarta on Friday, June 1, 2020.(JP/Nurhayati)

Indonesia is running out of time to rescue its businesses from the impact of the coronavirus pandemic, and banks should immediately ramp up promised working capital loan disbursement to bolster the economy, businesspeople have said. Indonesian Chamber of Commerce and Industry (Kadin) chairman Rosan Roeslani said the implementation of one of the government’s stimulus programs was too slow, urging banks to soon disburse working capital loans after receiving fresh funds of Rp 30 trillion (US$2.08 billion) from the government. “After the debt restructuring process, we now need working capital loans for micro, small and medium businesses as well as [big] businesses,” Rosan told reporters in a press conference on Thursday. Without working capital loans from banks, he went on to say, debt restructuring would not have much of an impact in stimulating supply and demand....