PhnomPenh (VNA) – Cambodia’s State-run Rural Development Bank has approveda 50 million USD credit package for local small and medium-sized enterprises(SMEs) that are operating in agriculture.
Speaking at a ceremony to announce the credit support package, Kao Thach, thebank’s Director General said more than 500,000local SMEs could benefit from the fund to increase their productivityand improve their competitiveness.
He said enterprises can borrow up to 300,000 USD on each loan, with a sixpercent annual interest rate for loans used as working capital and 6.5 percentfor that used for investment.
Cambodia Women Entrepreneurs Association PresidentEng Lykuong said the new fund will prove very useful for local SMEs, addingthat a 300,000-USD loan can help an entrepreneur to take her business to thenext level.
Meanwhile in Indonesia, President Joko Widodo said budgets earmarked for businesstrips and gatherings, which should be suspended due to the COVID-19 epidemic,can be used to help low-income locals, farmers, fishermen, as well as micro, small and mediumsized enterprises.
Speaking at an online Cabinet meeting on March 16, Widodo saidat least 40 trillion Rp (2.66 billion USD) initially prepared for businesstrips and officials' meetings, could be disbursed to the people to maintaintheir purchasing power.
He also asked relevant institutions to immediately start the disbursement of about31.3 trillion Rp worth of government social assistance to low-income householdsthrough the Family Hope Programme./.
Speaking at a ceremony to announce the credit support package, Kao Thach, thebank’s Director General said more than 500,000local SMEs could benefit from the fund to increase their productivityand improve their competitiveness.
He said enterprises can borrow up to 300,000 USD on each loan, with a sixpercent annual interest rate for loans used as working capital and 6.5 percentfor that used for investment.
Cambodia Women Entrepreneurs Association PresidentEng Lykuong said the new fund will prove very useful for local SMEs, addingthat a 300,000-USD loan can help an entrepreneur to take her business to thenext level.
Meanwhile in Indonesia, President Joko Widodo said budgets earmarked for businesstrips and gatherings, which should be suspended due to the COVID-19 epidemic,can be used to help low-income locals, farmers, fishermen, as well as micro, small and mediumsized enterprises.
Speaking at an online Cabinet meeting on March 16, Widodo saidat least 40 trillion Rp (2.66 billion USD) initially prepared for businesstrips and officials' meetings, could be disbursed to the people to maintaintheir purchasing power.
He also asked relevant institutions to immediately start the disbursement of about31.3 trillion Rp worth of government social assistance to low-income householdsthrough the Family Hope Programme./.
VNA
