Deputy Minister of Cooperatives Ferry Juliantono said that the Red and White Village/Sub-district Cooperatives are projected to be able to return their capital up to four times or Rp2,000 trillion in two years.
Ferry said the government provided a budget of Rp400 trillion for 80 thousand cooperatives, where each received Rp5 billion.
"With that initial capital, it can be leveraged up to 4 times. So if this Rp400 trillion is capitalized by the Village Cooperative, then it can be leveraged, of course the hope is that in a year, two years from the Rp400 trillion of capital disbursed for this Village Cooperative, it could become Rp2,000 trillion," said Ferry in Jakarta, Monday.
The Deputy Minister of Cooperatives explained that the funds provided by the Government will be used to facilitate various activities, one of which is the procurement of warehouses.
Tags:
asiaeast
