"This aligns with President Prabowo Subianto’s vision, which aims for the Red and White Village Cooperatives to play a significant role in boosting economic growth at the village level," he said in Tuban, East Java, on Saturday.
He cited the example of the Red and White Village Cooperative in Pucangan Village, Tuban, which has 1,200 members out of around 4,000 working-age residents.
The village cooperative produces coconut milk, boasting hundreds of billions of rupiah in assets and turnover. It is developed under the guidance of Sunan Drajat Islamic Boarding School (pesantren), which has extensive experience and a large-scale cooperative business.
Juliantono affirmed that his ministry is preparing the Business Assistant (BA) program to support managers and staff of village cooperatives.
In addition, state-owned companies, including Pertamina, ID FOOD, and state-owned banks, are providing training on loan disbursement for village cooperatives.
According to supervisors of the Red and White Village Cooperatives, the cooperatives have achieved a 50 percent profit even before receiving loan disbursements.
"This reflects the high enthusiasm of village communities to engage in productive cooperative activities," he said.
The minister also expressed hope that local and provincial governments continue to support the development of Red and White Village Cooperatives.
President Prabowo Subianto officially launched approximately 80,000 cooperatives nationwide under the Red and White Village Cooperatives program last July, aiming to strengthen the village economy. These cooperatives are envisioned as hubs for economic and social services, including savings, loans, and clinic services.
Related news: President Prabowo pushes cooperatives as key to Indonesia’s economy
Translator: Astrid Faidlatul, Raka Adji
Editor: M Razi Rahman
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