JAKARTA - Coordinating Minister for Economic Affairs Airlangga Hartarto confirmed that the realization of People's Business Credit (KUR) this year has reached Rp63.13 trillion as of April 5, 2021. This value is equivalent to 24.9 percent of this year's target of Rp253 trillion.
"Starting this year we are expanding KUR to become super micro so that it can be enjoyed by more people," he said, Wednesday, April 7.
In addition, the government called Airlangga also implemented several new and advanced strategies to improve the effectiveness of the utilization of financial programs for small and medium-sized entrepreneurs.
"We encourage KUR in the pandemic period with additional interest subsidies, delays in principal installments up to six months, extension of repayment time, to increase the loan limit," he said.
Earlier on Monday, April 5, Airlangga revealed that he had received instructions from President Joko Widodo to increase the portion of micro, small, and medium enterprises (MSMEs) to 30 percent from the previous 20 percent of the total credit disbursed today.
"Mr. President's directive related to MSME financing asks that there be greater challenges so that there is a leap increase so that it is targeted at more than 30 percent until 2024," he said.
Furthermore, he also explained about the changes in some rules related to the distribution of KUR, including unsecured KUR which has been limited below Rp50 million increased to Rp100 million.
Then, non-KUR MSME loans that were previously Rp500 million to Rp10 billion were enlarged to Rp20 billion.
To be known, the realization of KUR throughout 2020 has managed to break the target of 104 percent with a value of not less than Rp198.53 trillion.
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