Oil Palm Farmers of Jambi Signed Replanting Financing Agreement

The Indonesian Oil Palm Estate Fund (BPDPKS) with BNI, BRI, and a number of oil palm farmers association in Jambi signed an agreement of financing facilities for Oil Palm Reforestation Program (PSR) at Swiss-Belhotel, Jambi on Friday (13/7/2018). Agreement was signed with some village cooperative system (Koperasi Unit Desa/KUD) Sarana Makmur and KUD Tani Makmur from Merangin Regency, KUD Sawit Kita from Tanjung Jabung Barat Regency, and KUD Tandan Buah Segar from Muaro Jambi Regency. These four KUD manage following plantations: KUD Sarana Makmur covering 222 hectares, KUD Tani Makmur area of 190 hectares, KUD Sawit Kita area of 171,78 hectares, and KUD Tandan Buah Segar covering 167,60 hectares of hectares. As of today, Jambi Province is also processing replanting financing scheme for some Gapoktan (a local name for farmers group). Those are Gapoktan Rambutan from Muaro Jambi Regency managed 125,59 hectares land, KUD Citra Makarti from Bungo Regency with 115,18 hectares land and KUD Sumber Usaha Kita from Bungo Regency with 52,8 hectares land. For this replanting program, BPDPKS will disburse grant up to Rp25 million per hectare, while the remaining funding needs will be covered by banking credit. BNI was the first bank cooperated with BPDPKS to provide financing facilities for oil palm farmers. The first funding was distributed in Musi Banyuasin Regency, South Sumatra. ***