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Indonesia to provide billions of dollars to MSMEs, migrant workers

The Indonesian government has prepared a total of 20,000 billion IDR (1.29 billion USD) in loan funding for micro, small and medium enterprises (MSMEs), creative economy players and migrant workers, Coordinating Minister for Community Empowerment Muhaimin Iskandar has said.

Indonesia's Coordinating Minister for Community Empowerment Muhaimin Iskandar makes a press statement at the Bogor Presidential Palace, West Java, on January 3 (Photo: Antara)
Indonesia's Coordinating Minister for Community Empowerment Muhaimin Iskandar makes a press statement at the Bogor Presidential Palace, West Java, on January 3 (Photo: Antara)

Jakarta (VNA) - The Indonesian government has prepared a total of 20,000 billion IDR (1.29 billion USD) in loan funding for micro, small and medium enterprises (MSMEs), creative economy players and migrant workers, Coordinating Minister for Community Empowerment Muhaimin Iskandar has said.

It was agreed upon during a cabinet meeting chaired by President Prabowo Subianto at the Presidential Palace in Bogor, West Java, on January 3.

Minister Iskandar further explained that the funding is aimed at boosting capital accessibility and providing financial convenience for the above-mentioned subjects.

According to the minister, this funding adds to the types of existing capital provided by the government, such as Smallholder Business Credit (KUR) and through the state-run finance firm PT PNM.

In addition, he noted that the government will create a special loan programme for Indonesian migrant workers, especially those who need capital for training, plane tickets, and administrative expenses.

The Ministry of Finance has been assigned by the president to monitor this low-interest loan programme. The funding scheme will replicate previous successful systems such as the capital programme for disadvantaged women and MSMEs, thereby bringing about efficiency not only for the economy but also achieving social benefits, he added./.

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