Jokowi responds to MSME complaints that it is difficult to access KUR because BI checking is hampered

Jakarta, CNBC Indonesia – President Joko Widodo (Jokowi) visited Sungai Ringin Market, Sekadau Regency, West Kalimantan Province, Thursday (21/3/2024). On that occasion, Jokowi responded to public complaints regarding difficulties in accessing People's Business Credit (KUR) capital due to obstruction by BI Checking.

The head of state explained that currently there are many financing schemes that support MSME businesses, with varying loan sizes.

“For up to IDR 500 million there is something called KUR. The interest is only 6 percent per year, KUR can be IDR 25 million to IDR 500 million to a government bank,” said Jokowi in a statement.

He gave the example that apart from KUR from banks, there are other options for financing. Like Madani National Capital (PNM) Mekaar.

This program provides loans of up to IDR 10 million designed for micro businesses with a system that makes borrowing easier using a joint venture system.

Furthermore, Jokowi also mentioned the UMi program which provides smaller loans to support very small or ultra-micro businesses. He emphasized that these programs are designed to be accessible without collateral, making it easier for small businesses to obtain capital support.

However, according to Jokowi, further efforts are needed to educate the public about how to access the various financing facilities provided by the government.

“Actually, you can go to the bank, you can go to the PNM Mekaar institution, you can go to UMi, there are lots of people who can do it as long as the business is productive, without collateral. For PNM Mekaar and UMi it is without collateral,” he explained.

[Gambas:Video CNBC]

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