The realization (of KUR loans) has shown an upward trend. Just in August, it reached Rp103.17 trillion of the targeted Rp190 trillion, with 3 million debtors (covered by the scheme).Jakarta (ANTARA) - Loan disbursement under the subsidized microcredit program (KUR) for small and medium businesses reached Rp103.17 trillion in the year ending August 31, 2020, Coordinating Minister for Economic Affairs, Airlangga Hartarto, said.
The figure accounted for 54.3 percent of the target of Rp190 trillion set for the year, he added.
KUR loans were channeled to an estimated 3 million debtors, with outstanding loans totaling Rp88.5 trillion, the minister revealed at a national coordination meeting of the Indonesian Chamber of Commerce and Industry (Kadin) here on Thursday.
Meanwhile, non-performing loans (NPLs) were projected to touch 0.93 percent of the total loans.
“The realization (of KUR loans) has shown an upward trend. Just in August, it reached Rp103.17 trillion of the targeted Rp190 trillion, with 3 million debtors (covered by the scheme),” he said.
For the period from August, 2015 to August, 2020, the realization of KUR loans stood at Rp557.09 trillion, with total outstanding loans at Rp175.2 trillion, and the number of debtors at 21.7 million, he said.
The disbursement of KUR loans in the wake of the COVID-19 pandemic plunged to Rp4.75 trillion in May, 2020 from Rp18.99 trillion in March, 2020, he added.
However, the distribution of KUR loans began to increase in August, 2020, reaching Rp9.64 trillion, he said.
He said the micro KUR scheme still dominated the distribution of KUR loans, accounting for 71.02 percent of the loans, followed by the small KUR scheme, accounting for 28.74 percent of loans. (INE)
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Translator: Astrid Faidlatul H/Suharto
Editor: Fardah Assegaf
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