Until The End Of February, The Government Has Disbursed Rp55 Trillion In KUR Funds

Illustration (Photo: KLIP Bureau of the Coordinating Ministry for the Economy)

JAKARTA - Coordinating Minister for Economic Affairs Airlangga Hartarto reported that the distribution of KUR from 2022 to 28 February 2022 was recorded at IDR 55.06 trillion or 14.75 percent of the 2022 target of IDR 373.17 trillion. The funds have been given to 1.26 million debtors.

"So the total outstanding KUR on February 28, 2022 is IDR 412 trillion with a relatively low NPL of 0.98 percent," he said in his statement, Sunday, March 6.

The largest portion of the distribution of KUR in 2022 per sector was channeled in the trade sector at 44.8 percent, followed by the agricultural sector at 30.5 percent and the services sector at 13.7 percent.

"The government has also extended the additional KUR interest subsidy by 3 percent from the end of June 2022 to the end of December 2022," he continued.

Thus, the KUR interest rate until the end of December 2022 is only 3 percent. In addition, the Government also provides a grace period of 5 years.

In developing MSMEs, the Government issued policies, among others, requiring banks to disburse a minimum of 30 percent of total loans by 2024, increasing the size of MSME loans to Rp. 10 billion, restructuring MSME loans affected by Covid-19, as well as policy relaxation and the addition of the KUR ceiling.

On that occasion, Coordinating Minister Airlangga also handed over KUR in groups, such as for meatball businesses, oil palm, songket makers, and oil palm planters.

"I appreciate the achievement of the South Sumatran KUR which has a low Non Performing Loan (NPL) and its achievement of increasing 100 percent in 2020 to around Rp. 4.4 trillion, in 2021 to Rp. 8 Trillion," explained Airlangga.

The program, which consists of the Health Handling, Community Protection, and Strengthening Economic Recovery cluster, will continue to be monitored intensively so that the benefits for the community can be felt. This year, MSMEs will also get priority in the PEN budget allocation to encourage a faster recovery.

"KUR distribution continues to show an increase where the realization of KUR in 2021 increases by 42 percent compared to 2020, so that it reaches Rp. 281.86 trillion (98.9 percent of the change in the 2021 target of Rp. 285 Trillion) and is given to 7.4 million debtors," said Deputy The Coordination of Macroeconomics and Finance, Iskandar Simorangkir, delivered a report on the occasion.