Indonesia Expects State Bank Funding to Spur Village Co-op Programme

MACROECONOMICS - JAKARTA. The Indonesian government expects the $12 billion it has moved to state banks to spark an acceleration in plans to set up 80,000 village cooperatives across the country after a slow start to the flagship scheme, a minister said on Monday.

The "Red and White Cooperatives" are intended to drive growth and create jobs at a village level, as President Prabowo Subianto aims to lift economic growth to 8% from around 5% currently, a target he set during last year's election campaign.

Read Also: Nepal Sets March Elections After Naming Interim Prime Minister