Indonesia: State-own bank, Grab launch soft-loan programme for drivers
State-owned lender Bank Rakyat Indonesia (BRI), in cooperation with ride-hailing service provider Grab, has launched a low-interest loan facility for the latter’s drivers and merchant partners who have been impacted by the COVID-19 pandemic.
A driver with ride-hailing app Grab picks up a passenger (Photo: thejakartapost.com)Jakarta (VNA) - State-owned lender Bank Rakyat Indonesia (BRI), in cooperation with ride-hailing service provider Grab, has launched a low-interest loan facility for the latter’s drivers and merchant partners who have been impacted by the COVID-19 pandemic.
Under the programme, Grab’s drivers are eligible for a low-interest loan worth up to 5 million rupiah (336 USD) with a 24-month tenure. The BRI is also giving leeway to the drivers by freeing them from payment obligations for the first three months.
Besides drivers, merchants who operate through the GrabFood and GrabKios services, especially those with no access to bank loans, will be eligible for a microcredit programme (KUR) worth up to 50 million rupiah.
According to Grab Indonesia’s Managing Director Neneng Goenandi, the programme can ease the burden on Grab’s partners. Drivers who open accounts in the bank will also get insurance for accidents to the amount of 250 percent of their current account or a maximum coverage of 150 million rupiah.
In the first phase of the programme, a quota of 1,000 Grab driver partners in Greater Jakarta will be able to access the soft-loan facility. However, the partners will still have to meet the minimum requirements for their average earnings and the length of partnership with Grab to access the loans.
According to a Statqo Analytics report, the number of active Gojek and Grab users declined 17 percent throughout March as a result of the government’s large-scale social distancing restrictions (PSBB), leading to a reduction in drivers’ income.
Meanwhile, the country’s small and medium enterprises (MSME) saw a 30 to 35 percent sales decline in February and March, according to Indonesian MSME Association chairman Ikhsan Ingratubun./.
You should also see
Energy industry needs nearly 5 trillion VND of investment in 2021-2030
The total investment capital demand for the whole energy sector in the 2021-2030 period is between 4.13-4.8 trillion VND (163.01-189.46 million USD), according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.
See more
World
Vietnam appeals for maximum self-restraint, end to hostilities in Middle East
A representative of Vietnam appealed to all the parties concerned to exercise maximum self-restraint and to end hostilities, while addressing a United Nations Security Council (UNSC) open debate on the Middle East and Palestine situation on March 25.
World
Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) has reported.
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
World
Argentinian media praises Dien Bien Phu Victory
Argentinian newspapers have called Vietnam's Dien Bien Phu Victory (May 7, 1954) a symbol of the national liberation movement of oppressed and colonialised peoples worldwide.
World
Laos speeds up granting licences to foreign workers
Laos's Ministry of Labour and Social Welfare plans to issue visas to illegal foreign workers and extend permits to legal ones so that they can continue to work in the country.
