Perum Jamkrindo, as a State-Owned Enterprise (BUMN) responsible for Credit Guarantee for Micro, Small, and Medium Enterprises (KUR), remains committed to continuously enhancing its efforts in supporting the development of UMKM (Micro, Small, and Medium Enterprises). This commitment aligns with Perum Jamkrindo's support for the Government through the Coordinating Ministry for Economic Affairs, in implementing the Socialization of Ministerial Regulation of the Coordinating Minister for Economic Affairs (Permenko) No. 11 of 2017, which sets out the guidelines for implementing KUR to support financing for UMKM.
Through its credit guarantee efforts for KUR, Perum Jamkrindo aims to collaborate with stakeholders to ensure that UMKM can play a significant role as the backbone of the national economy. This program seeks to expand access to financing for productive enterprises, with KUR also contributing to facilitating the productive sector in obtaining financing from formal financial institutions.
"The Government has issued the Ministerial Regulation of the Coordinating Minister for Economic Affairs as the Head of the UMKM Financing Policy Committee No. 11 of 2017, regarding the guidelines for implementing KUR. This regulation replaces the previous one and became effective starting January 1, 2018," said Iskandar Simorangkir, Deputy for Macroeconomic and Financial Coordination at the Coordinating Ministry for Economic Affairs, during his speech at the Socialization of Permenko No. 11 of 2017 on KUR implementation guidelines, held on Monday, October 1st in Pontianak, West Kalimantan Province.
The socialization event was attended by the Director of Business Guarantees at Perum Jamkrindo, Amin Mas'udi, and Jamkrindo leadership, representatives from the West Kalimantan Provincial Government, Ministry of Finance, Ministry of Home Affairs, Ministry of Cooperatives and SMEs, BPKP, KUR Distributors and Guarantors, Bank Indonesia, OJK, and other relevant authorities. Some of the policy changes in KUR, as outlined in the regulation, include: the reduction of KUR interest rates from 9% to 7% per year; the inclusion of various business groups as potential KUR beneficiaries; the establishment of special KUR schemes; multisector KUR schemes; minimum allocation for production sectors; mechanisms for credit payments after harvest and grace periods; the renaming of Retail KUR to Small KUR; the credit ceiling for micro KUR in the production and non-production sectors; and KUR distribution alongside other permissible loans.
The special KUR scheme is designed for people's plantation, livestock, and fisheries sectors, offered to groups using a joint responsibility mechanism, including beginner entrepreneurs within the group, and managed collectively in clusters with business partners. The Special KUR can finance palm oil plantation rejuvenation, fishermen’s boat purchases, and livestock fattening. "The special KUR ceiling ranges from above IDR 25 million to IDR 500 million per individual group member. Meanwhile, the multisector KUR scheme allows distribution across multiple sectors," explained Iskandar.
He also mentioned that the Policy Committee has increased the target for KUR allocation in the production sectors (agriculture, fisheries, manufacturing, construction, and production services) for 2018 to at least 50% of the total KUR allocation target of IDR 120 trillion. This target supports the government's food security policy and industrial downstreaming for UMKM. The government is optimistic that this target will be achieved, as seen in the data from 2017, where KUR distribution in production sectors reached IDR 40.9 trillion (42.3%), while KUR in trade sectors reached IDR 55.8 trillion (57.7%).
As of August 31, 2018, Perum Jamkrindo's KUR distribution reached IDR 88 trillion (70.9% of the 2018 target of IDR 123.631 trillion), with a Non-Performing Loan (NPL) ratio of 0.05%. KUR distribution is still dominated by the Micro KUR scheme (66.7%), followed by the Small KUR scheme (33%), and TKI KUR (0.3%). This performance indicates the government's commitment to ensuring equitable access to financing for small enterprises. Additionally, to accommodate financing for the tourism sector through KUR, Permenko No. 8 of 2018 has been enacted as an amendment to Permenko No. 11 of 2017, and this amendment has been effective since September 20, 2018.
"This performance reflects the government's support for equitable access to financing for small enterprises," said Iskandar Simorangkir, Deputy for Macroeconomic and Financial Coordination at the Coordinating Ministry for Economic Affairs.
Regarding KUR distribution by region, Java is the dominant region, accounting for 56.1%, followed by Sumatra (19.4%), Sulawesi (9.5%), and Kalimantan (6.2%). This distribution aligns with the concentration of UMKM across Indonesia.
In the same event, the Director of Business Guarantees at Perum Jamkrindo, Amin Mas'udi, stated that Jamkrindo's role in Credit for Micro Enterprises (KUR) is essential to protect banks, the KUR distributors. "Perum Jamkrindo remains committed to improving its efforts in supporting the development of UMKM," he said.
Through KUR credit guarantees, Perum Jamkrindo aims to work closely with stakeholders to ensure that UMKM plays a vital role in the nation's economy. Furthermore, Amin Mas'udi mentioned that this program is aimed at expanding financing access for productive enterprises, making it easier for the productive sector to obtain financing from formal financial institutions. Through Permenko No. 11 of 2017 on KUR implementation, the KUR interest rate has been reduced from 9% to 7%.
Amin Mas'udi explained that this reduction in interest rates would ease the financial burden on businesses receiving KUR financing. For financial institutions that distribute and guarantee KUR, this change in interest rates requires policy adjustments, and technical coordination is needed. (HUMAS)