Injected By The State Budget, Sri Mulyani Offers A 6 Percent Credit Interest Red And White Kopdes

Minister of Finance, Sri Mulyani Indrawati. (Photo: Doc. Ministry of Finance)

Minister of Finance (Menkeu) Sri Mulyani Indrawati said the government had prepared funds through the state budget (APBN) for the capital of the Red and White Village Cooperative (Kopdes).

He said the loan capital prepared by the government was taken from more budget balance (SAL). The funds allow state-owned banks to channel cooperative loans with low interest of 6 percent, tenor of six years, and a grace period of between six and eight months.

The four state-owned banks appointed as distributors are BRI, BNI, Mandiri and Bank Syariah Indonesia (BSI).

"So these four banks make it possible to provide loans to red and white village cooperatives with a low interest rate of 6 percent," he said at a KSSK press conference at the LPS office, Jakarta, Monday, July 28.

However, Sri Mulyani emphasized that the distribution of financing to the Red and White Kopdes must still be carried out carefully.

"These banks still have to carry out proper due diligence, so that loans are really used to build the village and sub-district economy," he said.

Don't Disturb DPK

Sri Mulyani ensured that the capital of the Red and White Kopdes would not interfere with banking liquidity. This is because the budget used for the capital injection of the Red and White Kopdes does not come from third party funds (DPK).

"Funding supported by the government yesterday included those that we used our SAL funds in Bank Indonesia. Disbursed through loan facilities from banks," he said.

Sri Mulyani targets the total capital for the Red and White Kopdes to reach Rp400 trillion, which will be distributed to 80,000 cooperative units of all villages in Indonesia.

"This is to answer, does the cooperative take liquidity from the DPK? No, we place funds in the bank. So that banks get funds and even the cost of placing these funds is relatively cheap," he said.