Denpasar – Bali’s provincial administration in cooperation with the Regional Development Bank (BPD) will make Rp38.5 billion unavailable as low-interest loans to support agribusiness, empowerment of cooperatives, small-and medium-scale business (UKMs).
“The loans will be extended with a low interest rate for two years for agribusiness development in eight districts and city in Bali,” chief of local UKM and Cooperative Office, I Wayan Suasta said.
Speaking on the sidelines of a meeting on the enlargement of the role of village cooperatives (KUD) in the development of agribusiness, I Wayan Suasta said some Rp2.5 billion of the funds had already been disbursed.
He said the rest of the funds would be used for UKMs and cooperatives empowerment, while KUDs would have an opportunity to use the facility to engage in agribusiness.
Agribusiness development in Bali, he said, had bright prospects, especially cow fattening in the districts of Badung and Bangli, food commodity development, horticulture, and other productive business for the welfare of local people.
He added it was hoped the loans would be useful in helping to improve the people’s economy, and empower KUDs.
News by International Bali Post
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