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View all search resultsMicro credit program reaches 71 percent of target: Official
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A worker sprays paint onto a piece of furniture in Sarakan, Tangerang, Banten. The Cooperatives and Small and Medium Enterprises Ministry has raised the lower bound requirement of micro credit program (KUR) disbursement to Rp 25 million from Rp 20 million without collateral. (Antara/Lucky R.)
T
he realization of a government-backed micro credit program (KUR) reached Rp 71 trillion (US$5.46 million) as of September, 71 percent of the target of Rp 100 trillion with 2.95 million debtors, an official has said.
The Cooperatives and Small and Medium Enterprises Ministry's finance deputy, Braman Setyo, was optimistic that KUR distribution would meet its target, supported by the government’s decision to appoint several cooperatives to act as lenders in the program, in addition to 28 existing banks and multifinance firms.
"The more institutions that participate in distributing KUR, both banks and non-banks, the more we are able to meet the target of Rp 100 trillion set by the government," Braman said in Jakarta on Wednesday.
He added that one cooperative had been approved by the government to disburse KUR funds. However, Braman said the ministry would encourage more cooperatives to participate in the program. "There are 27 cooperatives that want to disburse KUR [funds]," he said.
Coordinating Economic Minister Darmin Nasution said previously that cooperatives had assisted banks in the loan program. In the future, cooperatives will be able to channel loans directly to debtors. (bbn)
