BNI plans Rp 2t in fresh loans to textile firms
BNI plans Rp 2t in fresh loans to textile firms
While acknowledging that lending to the textile industry carries a high risk, state lender Bank Negara Indonesia (BNI) will increase its loans to the sector this year.
“We estimate that loans to textile companies will increase by Rp 2 trillion (US$211 million) over the 2005 (level),” BNI president director Sigit Pramono said after a meeting with Minister of Industry Fahmi Idris on Wednesday.
Fahmi also met with Bank Indonesia Governor Burhanuddin Abdullah and several officials from local banks to discuss possible financial support for the ailing textile industry.
The industry ministry reported that textile companies were in dire need of financial support to replace aging machinery.
More: thejakartapost.com