President Jokowi Encourages Public to Apply for Gov’t Financing Schemes

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 21 Maret 2024
Category: News
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President Jokowi inspects Sungai Ringin Market, in Sekadau regency, West Kalimantan province, on Thursday (03/21), (Photo by: BPMI of Presidential Secretariat/ Muchlis Jr)

President Joko “Jokowi” Widodo affirmed that the Government has been providing various financing schemes to support micro, small, and medium-sized enterprises (MSMEs) in responding to the difficulty in accessing People’s Business Credit (KUR) faced by many people.

“In fact, the Government has many schemes. There is KUR with a maximum (credit limit) of Rp500 million and 6 percent interest rate per year. The KUR provides loan from Rp25 million up to Rp500 million via government-owned banks,” the President said at his visit to Sungai Ringin Market, in Sekadau regency, West Kalimantan province, on Thursday (03/21).

In addition to KUR, he said, there are also other financing schemes, namely the Fostering the Economy of the Prosperous Family (PNM Mekaar) program and Ultra-micro (Umi) Financing program. The Mekaar program provides a maximum loan limit of Rp10 million to micro businesses. Meanwhile, the UMi program provides even smaller loans to support ultra-micro businesses.

The President emphasized that these programs are designed to be accessible without collateral, making it easier for small business owners to obtain capital support.

Nevertheless, President Jokowi saw the need for disseminating the information to the public on the procedures of the Government financing facilities.

“Perhaps the public is not well informed. Actually, they can go to banks, PNM Mekaar or UMi institutions [to apply loan]. There are many options as long as the business is productive and they can get the loan from PNM Mekaar and UMi programs without collateral,” he explained. (BPMI of Presidential Secretariat/AIT) (RAS/LW)

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