"Thus far, some 80 thousand village cooperatives have been set up, and all of them are expected to begin operating within this year," he told the media at the Manpower Ministry Headquarters in Jakarta on Tuesday.
Setiadi noted that the head of state issued the instruction during a recent cabinet meeting.
"Since the cooperative establishment phase has been completed, we are now moving into the second phase, which focuses on initiating business activities," he remarked.
Earlier, in Jakarta on Monday (June 30), Deputy Minister of Cooperatives Ferry Juliantono announced that the government had facilitated the establishment of 80,400 Red and White Village Cooperatives across 38 provinces, with 92 of them to be designated as pilot models for the operational phase.
He remarked that President Prabowo is set to launch all the cooperatives, including the 92 select ones, in Klaten District, Central Java, on July 19.
Regarding budgeting, the deputy minister highlighted that the 92 cooperatives would receive funds from four primary sources: state-run banks, the Revolving Fund Management Institution (LPDB), regional development banks, and cooperatives that offer savings and loan services.
"The Ministry of Cooperatives is also working on developing training modules and business models (for the cooperatives)," he remarked after chairing a limited coordination meeting.
He expressed hope that the 92 pilot model cooperatives would set a benchmark for all other Red and White Village Cooperatives nationwide.
Furthermore, the official urged all relevant stakeholders, including regional governments, to work in synergy to make the operational phase a success.
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Translator: Arnidhya N, Tegar Nurfitra
Editor: Primayanti
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