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View all search resultsAs the government rushes ahead to meet the KMP program's launch date on July 21, it risks leaving behind necessary legal support, including a Finance Ministry regulation currently being drafted and the Cooperatives Law revision being deliberated at the House.
In line with President Prabowo's "3 million homes" program, the MSMEs and housing ministries are preparing to devise a special microcredit scheme for housing next year with a cap of Rp 430 trillion.
In a bid to solve a funding shortfall for the President's "3 million homes" program, the housing ministry has come up with a plan to disburse Rp 130 trillion (US$7.98 billion) contributed by state banks under Danantara via the micro credit program (KUR).
Coordinating Economic Minister Airlangga Hartarto announced plans for the program’s resumption on June 24, citing a request from President Joko “Jokowi” Widodo. The program was previously extended three times before expiring at the end of March of this year.
Two state-run credit guarantee insurer companies are running short on capital needed to service claims on defaults under the microcredit program (KUR), risking their ability to provide future loan guarantees and support the government-led low-cost financing assignment.
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