ID :
14098
Mon, 07/28/2008 - 15:25
Auther :
Shortlink :
http://m.oananews.org//node/14098
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PRESIDENT: MICRO CREDIT LESSENS IMPACT OF OIL, FOOD PRICE HIKES
Nusa Dua, Bali Province, July 28 (ANTARA) - President Susilo Bambang Yudhoyono called for the further development of the government's micro credit programs in order to decrease the number of poor people which was expected to increase as a consequence of the oil and food price hikes.
The oil price surges had worsened the poverty problem and forced many countries to revise their economic projections and expectations, the President said in his speech opening the Asia Pacific Regional Micro Credit Summit here on Monday.
The price hikes had the potential to disturb political and social stability, and therefore the global community must jointly deal with poverty to protect their common future, the head of state said.
Micro Credit had proven able to help the poor who had no skills and capital for running businesses, according to Yudhoyono.
Micro credit recipients were known as good businessmen as data at the Indonesian central bank, Bank Indonesia, showed that problematic credits among them were only one percent, he said.
Economy focusing on small scale businesses was a long-term investment directing toward growth from below and important to reduce unemployment, he said.
Despite the existence of 50,000 micro finance institutions in Indonesia, there were still 40 million Indonesians who do not have access to micro credit services.
Most of them lived in remote areas with geographic and infrastructure restrictions, and lack of information on micro credit, according to him.
The Indonesian government is serious in developing remote areas and opening access to micro credits to local residents in the areas, he stated.
A number of banks had channeled micro credits and the government had also provided People's Entrepreneurship Credit (KUR) which is expected to reach Rp14-15 trillion this year.
The opening ceremony of the regional micro credit meeting, being held here from July 28 to 30, 2008, was attended among others by Nobel Laureate and president director of Bangladeshi Grameen Bank Muhammad Yunus, Bank Indonesia Governor Boediono, and Director of the Microcredit Summit Campaign Sam Daley-Harris.
After the summit's opening ceremony, President Yudhoyono received Muhammad Yunus.
The oil price surges had worsened the poverty problem and forced many countries to revise their economic projections and expectations, the President said in his speech opening the Asia Pacific Regional Micro Credit Summit here on Monday.
The price hikes had the potential to disturb political and social stability, and therefore the global community must jointly deal with poverty to protect their common future, the head of state said.
Micro Credit had proven able to help the poor who had no skills and capital for running businesses, according to Yudhoyono.
Micro credit recipients were known as good businessmen as data at the Indonesian central bank, Bank Indonesia, showed that problematic credits among them were only one percent, he said.
Economy focusing on small scale businesses was a long-term investment directing toward growth from below and important to reduce unemployment, he said.
Despite the existence of 50,000 micro finance institutions in Indonesia, there were still 40 million Indonesians who do not have access to micro credit services.
Most of them lived in remote areas with geographic and infrastructure restrictions, and lack of information on micro credit, according to him.
The Indonesian government is serious in developing remote areas and opening access to micro credits to local residents in the areas, he stated.
A number of banks had channeled micro credits and the government had also provided People's Entrepreneurship Credit (KUR) which is expected to reach Rp14-15 trillion this year.
The opening ceremony of the regional micro credit meeting, being held here from July 28 to 30, 2008, was attended among others by Nobel Laureate and president director of Bangladeshi Grameen Bank Muhammad Yunus, Bank Indonesia Governor Boediono, and Director of the Microcredit Summit Campaign Sam Daley-Harris.
After the summit's opening ceremony, President Yudhoyono received Muhammad Yunus.
