ID :
94627
Sat, 12/12/2009 - 19:45
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https://www.oananews.org//node/94627
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GOVT CONSIDERING THREE FINANCING SCHEMES TO DEVELOP DEFENSE INDUSTRY
Jakarta, Dec 11 (ANTARA) - The government is considering three financing schemes to revitalize the national defense industry, a minister said.
The three financing schemes are seeking domestic loans, issuing bonds and creating a corporate mechanism with government guarantee, Defense Minister Purnomo Yusgiantoro said here on Friday.
"It is expected the three financing schemes will support the revitalization of the national defense industry," he said.
To ensure that the revitalization of national defense industry will run well, it must be based on commitment, continuity and consistency, he said.
He said domestic financing from the banking industry still falls short of expectation due to the absence of regulation of the finance minister to implement presidential decree number 54 of 2008.
Meanwhile, export credits obtained by the country so far to finance the military's armament system must be accompanied by government collateral, he said.
The issuance of bonds by strategic industries may be an alternative to replace export credits, he said.
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The three financing schemes are seeking domestic loans, issuing bonds and creating a corporate mechanism with government guarantee, Defense Minister Purnomo Yusgiantoro said here on Friday.
"It is expected the three financing schemes will support the revitalization of the national defense industry," he said.
To ensure that the revitalization of national defense industry will run well, it must be based on commitment, continuity and consistency, he said.
He said domestic financing from the banking industry still falls short of expectation due to the absence of regulation of the finance minister to implement presidential decree number 54 of 2008.
Meanwhile, export credits obtained by the country so far to finance the military's armament system must be accompanied by government collateral, he said.
The issuance of bonds by strategic industries may be an alternative to replace export credits, he said.
R017
