This figure represented 77.42 percent of this year's KUR distribution target of Rp297 trillion (around US$19.14 billion).
"First-time borrowers account for 70 percent of all KUR recipients this year," said Ferry Irawan, the ministry's Deputy for Macroeconomic and Financial Coordination Affairs in a statement on Wednesday.
Irawan informed that upgraded debtors comprised 53 percent of all debtors. Many micro, small, and medium enterprises (MSMEs) are utilizing KUR, and there has been an increase in the capacity of KUR recipient businesses.
The government has directed governors, regents, and mayors across Indonesia to form and optimize KUR monitoring and evaluation teams.
Regional agencies as well as other KUR stakeholders, Bank Indonesia, and the Financial Services Authority are enhancing data upload processes for potential KUR recipients as part of efforts to accelerate credit distribution.
The KUR Monitoring and Evaluation Team also optimized the provision of special KUR through the Programme Credit Information System (SIKP) and regional budget allocation for KUR program outreach activities.
Irawan said that prospective special KUR recipients must have a business group certificate or other certificate issued by the relevant office or agency and be registered on the Programme Credit Information System (SIKP).
The ministry's Directorate General of Treasury (DJPb) has developed SIKP's system and business process, as well as technical guidance for DJPb regional offices on special KUR distribution.
The outreach aims to motivate regional governments to prioritize uploading business group data into SIKP and sharing information about these groups. This will accelerate the distribution of KUR, particularly special KUR, to business clusters.
"The synergy and collaboration of each KUR stakeholder is needed so that the acceleration of KUR distribution can be achieved. Regarding technical matters, the regional government can coordinate directly with the DJPb regional office located in each region," he explained.
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Translator: Bayu, Alita, Azis Kurmala
Editor: Anton Santoso
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