JAKARTA – Vice President Jusuf Kalla (JK) stated that this year, the government will lower the interest rate for the Kredit Usaha Rakyat (KUR) program to 7%. Currently, the KUR interest rate stands at 9%.
Braman Setyo, Deputy for Business Financing at the Ministry of Cooperatives and Small and Medium Enterprises (Kemenkop UKM), mentioned that this plan aims to support Micro, Small, and Medium Enterprises (UMKM). The move will also make it easier for UMKM entrepreneurs to access loans from banks.
"This is within the jurisdiction of the KUR policy committee led by the Coordinating Minister for the Economy. Certainly, this will be taken into consideration following the statement of the Vice President," Braman said when contacted by KONTAN on Wednesday (April 26).
According to him, by lowering the KUR interest rate, the government can reduce expenditures from the State Budget (APBN). To date, the government through Kemenkop UKM has provided a 9.5% interest subsidy for the distribution of KUR.
For your information, based on Kemenkop UKM data, as of April 19, 2017, the realization of KUR disbursement has reached IDR 24.48 trillion to 1.08 million debtors. The target for disbursement is IDR 110 trillion by the end of the year.
(Source: www.kontan.co.id)