Indonesia promotes food security through MSMEs’ equipment financing
Indonesia's Micro, Small, and Medium Enterprises (MSMEs) Minister Maman Abdurrahman on January 14 emphasised his ministry's commitment to supporting food security by providing financing for equipment to MSME players.
Micro, Small, and Medium Enterprises (MSMEs) Minister Maman Abdurrahman (Photo: Antara)
Jakarta (VNA) - Indonesia's Micro𓆏, Small, and Medium Enterprises (MSMEs) Minister Maman Abdurrahman on January 14 emphasised his ministry's commitment to supporting food security by providing financing for equipment to MSME players.
He affirmed that several strategic steps have been taken to ensure that MSMEs can contribute optimally to supporting national food security.
The ministry is preparing a regulation to allocate 20 trillion IDR (1.22 billion USD) for (subsidised low-interest-rate) People's Business Credit (KUR), specifically for production equipment, he said, adding the programme aims to help farmers and MSME entrepreneurs in the fisheries sector obtain business equipment, with a credit ceiling of up to 2 billion IDR.
He also drew attention to alternative financing offered through the Government Investment Center (PIP) that offers 4% interest for non-KUR MSME financing. This support is also available for Village-Owned Enterprises (BUMDes), opening up opportunities for local governments to expand access to financing at the village level.
In addition, the minister noted that currently, of the 46 KUR distributing institutions, 75% of the distribution is carried out by state-owned banks. However, to expand the reach to cover MSMEs in regions, the role of Regional Development Banks will be increased, a step to ensure that MSMEs across the country get fair and equitable access to financing.
Furthermore, he underlined that MSMEs can play a role in various supporting sectors of the Free Nutritious Meals programme, such as supplying raw materials, producing ready-to-eat food, and distributing food.
The involvement of MSMEs in various sectors will open new opportunities and bolster their position in the national food supply chains, he remarked./.
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