After a coordination meeting with SOEs Minister Erick Thohir and SOE leadership in Jakarta on Monday, Hasan informed that SOEs have agreed to play an important role in supporting village cooperatives.
One form of support is from state-owned banks, which will provide capital support with a ceiling of Rp3 billion (around US$182,291).
SOEs will also serve as suppliers of fertilizers, cooking oil, LPG, staple goods, and sugar through state logistics company Bulog and state food holding company ID Food.
State-owned postal company Pos Indonesia will also be involved as a distributor of social assistance.
"For that reason, the support of SOEs will highly determine the success of the Red and White Village Cooperatives," he said.
Hasan, who is also serving as chair of the Red and White Village Cooperatives Task Force, informed that state-owned telecommunication company Telkom will build digitalization systems for the cooperatives to ensure transparency in financial management.
In addition, state-owned Bank Rakyat Indonesia (BRI), with its BRILink service, will be involved in supporting financial transactions at the cooperatives.
The Indonesian government is targeting to establish 80 thousand Red and White Village Cooperatives, which are expected to start operations by October 28, 2025.
President Prabowo Subianto has issued Presidential Instruction Number 9 of 2025 on the Acceleration of the Red and White Village Cooperatives' Formation to expedite the establishment of the 80 thousand cooperatives across the country.
The cooperatives are envisioned as hubs of economic and social services for village communities, which would provide savings, loans, and clinic services, among other things.
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Translator: Shofi Ayudiana, Raka Adji
Editor: Arie Novarina
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