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Govt to allow cooperatives to join KUR program
The government will appoint several cooperatives to act as lenders in the micro credit program (KUR) in addition to the 28 existing banks and multi-finance firms, a top official said on Monday.
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Coordinating Economic Minister Darmin Nasution speaks to the reporters in Jakarta on Oct. 15, 2015. (The Jakarta Post/wienda parwitasari)
T
he government will appoint several cooperatives to act as lenders in the micro credit program (KUR) in addition to the 28 existing banks and multi-finance firms, a top official said on Monday.
Coordinating Economic Minister Darmin Nasution said previously cooperatives had assisted banks in the loan program. In the future, cooperatives will be able to channel loans directly to debtors.
“We have approved one of the 15 cooperatives recommended by the Cooperatives and Small and Medium Enterprises Ministry,” Darmin told reporters in Jakarta, without mentioning the appointed cooperative.
Darmin added that as of August, the number of channeled KUR loans reached 65.2 percent of the Rp 100 trillion (US $7.6 billion) target, of which 68 percent went to the trade sector.
Darmin hoped that in the future, the micro loans could be given to other sectors, especially farmers, fishermen and food producers. (dmr)
