Baca berita tanpa iklan. Gabung Kompas.com+

Indonesia Targets to Provide $140 Billion for MSMEs Credit Program in 2024

September 9, 2021, 06.51 PM


JAKARTA, KOMPAS.com – The Indonesian government has set a target of distributing a total of 2,000 trillion rupiahs ($140.3 billion) to finance micro, small-medium enterprises (MSMEs) credit program, a senior minister said on Thursday, September 9.

Coordinating Minister for Economic Affairs Airlangga Hartarto said that the government has required banks to provide a minimum of 30 percent for MSMEs credit program in 2020.

“There is an additional loan of 980 trillion rupiahs ($69 billion) to achieve the target of 2,000 trillion rupiahs for MSMEs credit program in 2024,” said Airlangga.

Also readMSMEs in Agriculture, Digital Technologies Contribute Greatly to Indonesia Economy 

In line with the National Economic Recovery Program (PEN), banks are expected to support the MSMEs, which mostly engage in the informal sector and have a significant contribution to gross domestic product (GDP).

“Most of them are in the informal sector and they play a significant role to drive the economic growth,” he said, adding that the credit program will be implemented in stages from 2021 to 2024.

To accelerate the economic recovery program, the government and its stakeholders continue to work closely to develop policies.

Also readIndonesia to Disburse $27.6 Million Stimulus Payments for MSMEs April 20, Says Senior Minister

“The government has responded to the risk of a slowdown in the economic recovery by refocusing on the National Economic Recovery Program regulation. This is to enhance health and social protection to maintain people’s purchasing power and improve health to support small businesses during the partial lockdown,” he said.

The senior minister said that as of May 2021, the MSMEs loans reached 18.59 percent of the total credit disbursement. In 2019, the number of MSMEs reached 99 percent of the total business units and provided jobs to 96.9 percent of the total workforce in Indonesia.

“Overall, MSMEs contribute 60.5 percent to Indonesia’s GDP. One of the main challenges of reviving the economy and MSMEs is to provide access to finance.”

(Writer: Kiki Safitri | Editor: Ambaranie Nadia Kemala Movanita)

Source: https://money.kompas.com/read/2021/09/09/151526826/pemerintah-targetkan-penyaluran-kredit-umkm-mencapai-rp-2000-triliun-pada-2024.

Simak breaking news dan berita pilihan kami langsung di ponselmu. Pilih saluran andalanmu akses berita Kompas.com WhatsApp Channel : https://www.whatsapp.com/channel/0029VaFPbedBPzjZrk13HO3D. Pastikan kamu sudah install aplikasi WhatsApp ya.



Comment wisely and responsibly. Comments are entirely the responsibility of the commentator as regulated in the ITE Law
Report
Thank You! We have received your report. We will remove comments that conflict with the Community Guidelines and the ITE Law.

More Headlines

News
April 14, 2023, 12.38 PM

Indonesia Detects New Covid Arcturus Variant

Baca berita tanpa iklan. Gabung Kompas.com+
Baca berita tanpa iklan. Gabung Kompas.com+

MOST POPULAR

Baca berita tanpa iklan. Gabung Kompas.com+
Baca berita tanpa iklan. Gabung Kompas.com+
Close Ads
Oke