Bangka Allocates IDR 1 Billion For MSME Loan Interest Subsidies

Bangka Regent Mulkan. (Photo: Doc. Antara)

SUNGAILAT - The Bangka Regency Government of Bangka Belitung Islands Province in 2023 allocated Rp1 billion for the provision of interest subsidies for business capital loans for micro, small and medium enterprises (MSMEs).

"The interest subsidy assistance for MSME players is IDR 1 billion in 2023, which is a continuation program in 2022," said Bangka Regent Mulkan, quoted by Antara, Tuesday, January 10.

He said the MSME interest subsidy through a loan at Bank Sumsel Babel was a form of the Bangka Regency government's commitment to encourage the improvement of MSME businesses developed by the community.

"In 2022, MSME interest subsidies amounted to Rp600 million and in 2023 it was increased to Rp1 billion because the interest of MSME actors was quite high in absorbing business capital assistance funds through these financial institutions," he explained.

The MSME sector is a serious concern for the government because this sector is recognized to be able to encourage economic growth of people in the regions such as employment.

"I ask MSME actors who receive business loan capital to be able to pay on time and use business capital as needed," said the Regent.

It was recorded that tens of thousands of MSMEs in Bangka Regency were successfully developed by the local community, starting from culinary or processed foods, handicrafts and other business products.

"Entrepreneurs, apart from being required to maintain and improve product quality, should also be able to take advantage of information technology services such as social media services to expand marketing," explained Mulkan.