Wednesday, 19 February 2020

Jakarta to Provide Loan Relaxation for Flood-affected Businesses

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Ririe Ranggasari

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  • TEMPO.CO, Jakarta - Jakarta provincial administration instructed the city’s lender Bank DKI to provide credit relaxation for businesses affected by the New Year's Day flooding.

    “We have instructed Bank DKI to give easier access for people applying business loans,” the city’s regional secretary Saefullah said at the City Hall, Central Jakarta, Friday, January 24.

    However, Saefullah asserted that the relaxed lending will be provided in compliance with applying regulations as set by the Financial Service Authority (OJK).

    The Jakarta unit of the Indonesian Indigenous Entrepreneurs Group (HIPPI) welcomed the plan. “It would be quite helpful," HIPPI Jakarta chair Sarman Simanjurang said.

    HIPPI's record showed that entrepreneurs in Jakarta suffered losses of up to Rp1 trillion due to the severe flooding that hit the capital at the beginning of this year. The figure was obtained from the lack of money circulation during the disaster.

    Sarman said that restaurant and shopping center owners incurred the highest losses, as the flood happened during the New Year's and school holidays--a time when businesses usually thrived.

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