Ministry of Finance of Republic of Indonesia : 2017 KUR Ceiling Set at IDR110 Trillion

Jakarta, 23/01/2017 MoF - The Policy Committee has set a ceiling of People's Business Credit (KUR) in 2017 at IDR110 trillion, with interest of 9% per year. According to Deputy of Financing of Cooperatives and SMEs Ministry Braman Setyo, the decision was made at the Policy Committee meeting in the Coordinating Ministry for Economic Affair office, Jakarta, Friday (20/1).

In detail, 81% KUR will be distributed to micro enterprises, 18% for the retail sector, and 1% for credit of Indonesian Workers (TKI). Braman added, there are 38 financial institutions as KUR dealer this year consisting of 33 banks, four Non-Bank Financial Institutions (LKBB), and one cooperative. 'However, there was a proposal to add another five financial institutions that have been doing non KUR financing of migrant workers,' he added.

On the same occasion, Coordinating Minister for Economic Affairs Darmin Nasution hoped KUR for agricultural production sector will be distributed more evenly on non-rice commodities. 'I do hope the credit to the agricultural production sector is not only for rice, but also sugarcane, onion, etc,' he said as quoted by the Ministry for Economic Affairs page on Monday (23/01). For information, information related KUR is provided in http://kur.ekon.go.id/.(as/rsa)