Jakarta, Dec. 23 -- Indonesian Finance Minister Purbaya Yudhi Sadewa allocated a budget of Rp2 trillion (around US$119.1 million) to support export financing for the textile and furniture industries, disbursed through the Indonesia Eximbank (LPEI).

"We have allocated Rp2 trillion for textile and furniture companies. They can access this through LPEI at a 6 percent interest rate," he said in a press conference at the office of the Ministry of Finance in Jakarta on Tuesday.

Purbaya explained that LPEI's current financing volume has only reached Rp200 billion, while furniture industry players have proposed increasing the figure to Rp16 trillion.

For now, the minister has approved the proposal with a financing ceiling of Rp2 trillion.

The...