Jakarta, Oct 9 (Antara) - The third phase of the government's economic policy package offers a chance to get micro loans (KUR) for entrepreneurs and for families with routine income, who wish to do business in the productive sector.
Chief Presidential Communication Team leader Ari Dwipayana said in written statement on Wednesday that the third economic policy package included efforts to expand the recipients of micro loans for small businesses, known as KUR.
"In order to widen banking access for entrepreneurs through the KUR scheme, the government has lowered the interest rate for KUR loans from about 22 percent to 12 percent," Ari said.
Under the new policy package, the government said families with routine income, who are willing to do business in the productive sector, would receive KUR credits.
With this policy, banks that have been assigned to distribute the KUR credits have been asked to actively offer the loans to such families. "This is expected to boost the number of KUR loan recipients and to facilitate the emergence of new entrepreneurs," Ari said.
The government had earlier formulated at least three proposals that can be used as the basis for the relaxation of the KUR program so that the target for distributing Rp30 trillion in KUR credit this year can be achieved.
The concept suggests that the business sector is designed in such a way that KUR recipients will not be required to provide too many details as long as they do business in the productive sector.
The second concept concerns the repayment period, which should be set much longer in accordance with conditions of the prospective clients businesses, while the third proposal is related to the realization of KUR credits for Indonesian migrant workers (TKI), who so far have been constrained with a number of regulations when they tried to access KUR loans.
President Joko Widodo had earlier asked for a number of breakthroughs so that small scale businesses could get easy access to KUR credits for their capital.
The breakthrough, according to Ari, is an important step because the government is determined to protect and reinforce small and medium-sized businesses.
"Data, which I have obtained on KUR, shows that the KUR credit distribution is still low," President Widodo said while opening a cabinet limited meeting on KUR on Monday night.
The President said the government should strengthen the capital for small businesses because it is one of the forms of protection they should receive.
"They must be protected and reinforced so that they are able to develop a competitive edge," the President stated.
The President also explained that in 2015, the amount of KUR credits made available had totaled Rp30 trillion, with the interest rate lowered from 22 percent to 12 percent.
"We expect that the interest rate for KUR loans will go down further next year to 9 percent," the Head of State said, hoping that the budget for KUR credits that has been set should be distributed to by the end of the year so that the wheel of the national economy keeps turning.
He said the KUR scheme could be extended to individuals or groups doing business, not only in the productive sector, but also in the trade sector.
The President also asked for the expansion of KUR loan recipients to cover sectors, such as migrant workers, creative industries, tourism and new comers in the business world.
He also asked for the expansion of KUR loans distributors among cooperatives, smallholder's credit bank (BPR) and regional development banks (BPD).
All parties involved in the KUR program, such as ministries and banks should coordinate with the Financial Service Authority (OJK) so that the relaxation of KUR regulations can be implemented, according to the President.
Regarding the interest rate of the KUR loans which will be cut further to nine percent next year, the government has set a target to enhance the credit to about Rp100 trillion-Rp120 trillion.
Deputy for Business Development and Restructuring of the Ministry of Cooperatives and Small and Medium Enterprises, Braman Setyo, said on Thursday that the government is increasing the volume of its KUR distribution target in an effort to encourage businesses under the KUR program.
"The government has set aside a fund from the state budget as interest subsidy, amounting to Rp10.5 trillion, and guarantee service fee (IJP) worth Rp2.1 trillion ," Setyo said.
The Ministry of Cooperatives and Small Scale Enterprises has been utilizing and cooperating with the Business Development Services in 27 provinces to provide assistance to small and medium size businesses (UMKM) find access to the KUR program at banks.
"A total of 42 Integrated Business Service Centers have been set up and manned by 252 personnel ready to make the KUR program a success," he said.
This year, the government has set a target of distributing Rp30 trillion credits in the KUR program at an interest rate of 12 percent a year, far lower than the 22 percent interest rate previously.
The KUR scheme was launched in August 2015. Till October 5, 2015, a total of Rp4.35 trillion had been distributed to 267,686 recipients.
Setyo said matters related to the KUR that needed attention included customers' criteria, business sectors which could be financed under the KUR scheme and the mechanism to distribute KUR credits.
"Based on the Economic Minister's Regulation No. 6/2015, the sectors that could be financed with KUR credits are agriculture, fisheries and processing industries, and trade related to these sectors," he said.
He said that relaxation in some norms was needed so that more productive sectors could be brought into the ambit of KUR credits. KUR credits should be given to productive business sectors run by families which have regular income.
"The criteria of identifying KUR credit recipients are not linked to Law No. 20/2008 but to a maximum ceiling, namely Rp25 million for businesses that are feasible but without access to banking facilities, such as street vendors and road side food stalls (warteg)," he said.***3***(A014/INE)EDITED BY INE (T.A014/A/BESSR/A. Abdussalam) 09-10-2015 20:32:0 |
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