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New flash: Three state-owned banks to dish out Rp 20 trillion in KUR
The government plans to once again redistribute Kredit Usaha Rakyat (KUR) or loans for peopleâs business this year to help people eager to start up their own business enterprises
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T
he government plans to once again redistribute Kredit Usaha Rakyat (KUR) or loans for people's business this year to help people eager to start up their own business enterprises.
The government is aiming to disburse Rp 20 trillion (US$1.5 billion) in KUR with the involvement of three major state-owned banks and interest rates of 21 percent per year.
These plans have been discussed by a number of ministers at the office of the Coordinating Minister of Economic Affairs, Sofyan Djalil. The ministers present at the two-hour meeting were Finance Minister Bambang Brodjonegoro and Cooperatives and Small and Medium Enterprises Minister Anak Agung Gede Ngurah Puspayoga.
'KUR will once again be put into motion. The plans will begin rolling on March 10,' Puspayoga said, as quoted by Detik Finance. 'The target for redistribution this year is Rp 20 trillion.'
Three major state-owned banks will be participating in this program ' Bank Rakyat Indonesia (BRI), Bank Negara Indonesia (BNI) and Bank Mandiri.
The funding will come from the internal funds of each of these three banks. The government has prepared Rp 1 trillion as guarantee funds. This money will be channeled through credit guarantee companies PT Askrindo and Perum Jamkrindo.
