There Is IDR 35.28 Trillion For Subsidies Of 60.66 Million MSMEs

JAKARTA - Director of the Investment Management System of the Directorate General of Treasury (DJPb) of the Ministry of Finance, Djoko Hendratto, said that the data provided by the Financial Services Authority (OJK) is a reference for the Ministry of Finance in ensuring the target of distributing interest subsidies for micro, small and medium enterprises (MSMEs).

The government prepares a budget of IDR 35.28 trillion for interest subsidies for MSMEs. The total budget is for a target of 60.66 million debtors.

"We are very dependent on OJK data because that is our basis for providing interest subsidies," he said in a virtual discussion, Friday, June 19.

Djoko said that the government partners in distributing interest subsidies consisted of banks and finance companies with a total fund of IDR 32.2 trillion to 36.7 million debtors. Then followed by BUMN IDR 2.6 trillion to 16.7 million debtors, and BLU and cooperatives IDR 0.5 trillion to 7.3 million debtors.

Furthermore, Djoko explained, these distributors are directly related to debtors. They are tasked with contacting all debtors who are registered with the OJK.

According to Djoko, the distributor has an important responsibility, which is to be able to reach and convey the interest subsidy facility to debtors appropriately. Because, if it is wrong to distribute, then the one who is responsible is the distributor.

"The responsibility of the distributor is very crucial because if they give it to the debtor, of course they should be held accountable for it," he said.

Then, Djoko explained, the interest subsidy distribution scheme to MSMEs. First, OJK submits debtor data as the basis for the government to provide interest subsidies.

Second, the distributor submits the debtor data according to the criteria, then the debtor registers and confirms to join the interest subsidy program through the portal and submits a power of attorney to the distributor.

Next, the distributor bills the interest subsidy from the distribution budget user authority (KPA) so that the KPA submits a payment order (SPM) to the state treasury service office (KPPN).

KPPN will issue a fund disbursement order (SP2D) which then the funds go to the account, then KPA submits the debtor nominative data to the partner bank for disbursement of subsidized funds.

After that, the partner bank transfers funds from the parent account to the debtor account. So that the distributor must notify the debtor that the subsidized funds have been disbursed and will be debited on the due date.

Finally, based on the power given by the debtor, the distributor transfers funds to the VA of each debtor to the channel's account at the partner bank.

Djoko explained, for credit relaxation, the Ministry of Finance noted that there were 1.25 million borrowers who had utilized it until June 17. The total outstanding people business credit (KUR) customers who received relaxation reached IDR 50.61 trillion.

"The KUR program, which has accessed 1.25 million debtors in providing this relaxation," he said.

According to Djoko, there are 11 KUR channeling agencies that provide special treatment to debtors affected by COVID-19. The largest bank in providing credit relief was BRI with 1.14 million KUR debtors and an outstanding value of IDR 29.44 trillion.

Then, BNI has 107.66 thousand debtors with an outstanding of Rp.20.13 trillion, BPD Bali 2,469 debtors with an outstanding Rp611 billion, BPD DI Yogyakarta 461 debtors with an outstanding Rp51 billion, and BTN 252 debtors with an outstanding Rp55 billion.

Ultra-micro debtors, at PT PNM, have facilitated relaxation for 3.57 million special borrowers for Mekaar customers with an outstanding total of IDR 8.2 trillion.

Meanwhile, PT Pegadaian (Persero) provided a postponement of installment payments to all debtors with a loan ceiling of up to IDR 1 million for three months from March to 817.4 thousand debtors with an outstanding of IDR 570.6 billion.

Pegadaian also provides credit restructuring to 55,017 debtors with a total outstanding of IDR 2.8 trillion to debtors with a loan ceiling of more than IDR 1 million up to June 15, 2020. Until now, the process of submitting and granting restructuring is still ongoing.

"We have been running and continuing. Hopefully with this program, such as interest subsidies, this program will also expand quickly," he explained.