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Indonesia to extend assistance to small businesses

Indonesian Minister of Cooperatives and Small and Medium Enterprises Teten Masduki has said his Government is seeking to expand its business assistance programme to around 3 million more small businesses affected by the COVID-19 outbreak by reallocating funds from other programmes within the government’s stimulus plan.
Indonesia to extend assistance to small businesses ảnh 1Illustrative image (Photo: Jakarta Post)

Hanoi (VNA) – Indonesian Minister of Cooperativesand Small and Medium Enterprises Teten Masduki has said his Government is seeking to expand its business assistance programme toaround 3 million more small businesses affected by the COVID-19 outbreak byreallocating funds from other programmes within the government’s stimulus plan.

The ministry plans to increase the initial target of 12million micro and small businesses to 15 million by mid-December.

Through the assistance programme, eligible small businesses canreceive a grant of 2.4 million RP (163 USD) to help them survive the economicimpacts of the health crisis.

With the expansion, the Governmentplans to increase the budget allocation for the programme from 22 trillion RPto 36 trillion RP.a

According to a surveyof 1,165 businesses conducted between April and May by the Asian DevelopmentBank (ADB), 91.8 percent of small businesses said they need loans withoutinterest or collateral, and 89.5 percent want cash assistance or grants.

As of September 2, the Government had disbursed 13 trillionRP, or about 61 percent of its initial budget of 22 trillion RP./.

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