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View all search resultsCoordinating Economic Minister Airlangga Hartarto announced plans for the program’s resumption on June 24, citing a request from President Joko “Jokowi” Widodo. The program was previously extended three times before expiring at the end of March of this year.
The government is planning intervene in the credit market to address nonperforming loans to micro, small and medium enterprises (MSMEs) and free up banks to lend further to the group, but experts say the move could have a dire impact on small banks’ balance sheets.
Born as a response to the pandemic Sendok Kreatif (creative spoon) is a new local initiative empowering the Balinese community by encouraging creative thinking to build sustainable micro-businesses.
The government is slashing the micro enterprise assistance by a half to Rp 1.2 million per recipient this year, but aims to reach a larger number of recipients than last year at 12.8 million by the third quarter of 2021.
Cooperatives and Small and Medium Enterprises Minister Teten Masduki said during the launch of a mentoring program on Thursday 40,000 micro, small and medium enterprises (MSMEs) across 18 provinces nationwide would be assisted.
MSMEs, which account for around 60 percent of Indonesia’s gross domestic product (GDP), are among the hardest-hit businesses during the coronavirus outbreak as demand weakens and bank loans become harder to access.
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