MOIT VIETNAM | Indonesia backs MSMEs amid COVID-19
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Indonesia backs MSMEs amid COVID-19
The Indonesian government has prepared a credit package worth up to 4.2 trillion rupiah (about 285 million USD) to support micro, small and medium-sized enterprises (MSMEs) to resume production amid the complicated developments of COVID-19, according to Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan.
Indonesian medical workers take samples for testing COVID-19 (Photo: Xinhua/VNA)
Jakarta (VNA) – The Indonesian government has prepared a credit package worth up to 4.2 trillion rupiah (about 285 million USD) to support micro, small and medium-sized enterprises (MSMEs) to resume production amid the complicated developments of COVID-19, according to Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan.
The official said MSMEs play an important role in the Indonesian economy, adding that they contributed 60 percent to the country’s gross domestic product (GDP) and 14 percent to the nation’s total export turnover in 2019.
However, these firms are facing a lot of obstacles in accessing loans due to administrative procedures imposed by banks.
The minister said he has asked banks to relax procedures to make it easier for MSMEs to access loans, especially in the context of COVID-19.
The number of COVID-19 cases in Indonesia rose by 1,752 within one day to 84,882, with the death toll adding by 59 to 4,016, a local health official said on July 18.
More than 43,260 patients have recovered so far. High number of infections were recorded in six provinces, namely North Sumatra, South Kalimantan, Jakarta, Central Java, East Java and South Sulawesi./.
Source: VNA
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