BPDPKS-Bank Sumsel Babel Launch Joint Financing for Oil Palm Replanting

THE Indonesian Oil Palm Estate Fund (BPDPKS) has signed cooperation agreement with Bank Sumsel Babel to support oil palm plantation replanting for members of Oil Palm Farmer-managed Cooperative (KPKS) Suka Makmur and KPKS Tri Bakti Sentosa di South Sumatera. Cooperation agreement was signed at Central Office of Bank Sumsel Babel in Jakabaring, Palembang, South Sumatera, Monday (17/12/2018). On an official press statement (20/12/2018), Marketing Director of Bank Sumsel Babel, Antonius Argo Prabowo said that the two KPKS works under the supervision of Plantation Office of Musi Banyuasin Regency Government.

“The financing facility is a part of Bank Sumsel Babel contribution to support economic growth, particularly to improve oil palm smallholders and their family at Keluang and Sungai Lilin Sub-districts in Musi Banyuasin Regency,” Antonius said. Smallholders` Oil Palm Plantation Replanting Program (PSR) in Musi Banyuasin Regency was first launched on 13 October 2017. Grants disbursed to KPKS Suka Makmur and KPKS Tri Bakti Sentosa in 2018 was the third disbursement by BPDPKS.

Initially, BPDPKS has disbursed grant to 324 families who are members of KPKS Suka Makmur and to 235 families belong KPKS Tri Bakti Sentosa. Under this cooperation agreement, smallholders will be able to benefit from low-cost financing from the bank to complete a grant disbursed by BPDPKS and replanting fund provided by cooperatives. *** (Bangka Pos)