By Stefanno Sulaiman

JAKARTA (Reuters) -The Indonesian government plans to subsidise some of the interest on loans held by smaller real estate developers in an effort to encourage them to build or renovate properties, the finance ministry said in a new decree.

It was not clear when the government made the document available to the public, but the decree took effect this week. It is aimed at supporting President Prabowo Subianto’s programme to build 3 million affordable houses a year and address a supply gap that the country’s 280 million people face.

The government said it would subsidise 5% of the interest on loans taken out by small-scale developers for up to five years.

In addition, the government will cover between 5.5% to 10% of the interest on loans taken out by individuals looki

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