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View all search resultsGovt expands microloans to boost housing, sugarcane farming
The government has allocated Rp 13 trillion (US$803.11 million) for renovation loans and Rp 117 trillion for housing development under the scheme.
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Fresh start: A woman and her child walk past subsidized housing for media industry workers on June 5 at Gran Harmoni Cibitung Residential Complex, Bekasi Regency, West Java. (Antara/ Fakhri Hermansyah)
T
he government is set to launch three new schemes under the subsidized microcredit program (KUR) to support housing developers, sugarcane farmers and migrant workers.
Coordinating Economic Minister Airlangga Hartarto announced on Thursday that the housing KUR would provide up to Rp 5 billion in credit for contractors or developers classified as micro, small and medium enterprises (MSMEs) to construct type-36 housing units over a four- to five-year period.
In addition, individuals can also access housing KUR for home renovations, particularly if the renovations are used for business purposes.
The government has allocated Rp 13 trillion for renovation loans and Rp 117 trillion for housing development. Distribution will be handled by state lenders and selected private institutions, with a 5 percent interest subsidy provided.
Airlangga said the scheme could be launched after the issuance of implementing regulations from the Public Housing and Settlements Ministry.
“We hope the program can be launched this month,” he said, as quoted by Antara.
On June 17, Housing Minister Maruarar “Ara” Sirait revealed that the government plans to disburse Rp 130 trillion (US$7.98 billion) from banks under the state asset fund Danantara through the KUR program. The effort is deemed necessary to support President Prabowo Subianto’s 3 million homes program.
