Yogyakarta (ANTARA News) - President Susilo Bambang Yudhoyono boasted the credit scheme for small and medium businesses (KUR) he launched in 2007 had been able to empower more than seven million small, micro- and medium businesses.

"And its progress has been very good since I launched 2007," he said when officially opened the International Micro-finance Conference here on Monday.

He said total credits that had been distributed since 2007 had reached Rp87 trillion.

He said the government`s KUR program has been successful with only small bad loans recorded and it has also helped the government alleviate poverty and reduce unemployment.

"By empowering the people through the KUR policy poverty and unemployment has been reduced in stages from 12 percent to six percent," he said.

President Yudhoyono said in addition to KUR the government has also carried out "my savings" program to encourage people to save in banks.

He said he hoped through the program the low-income bracket would be included in a national financial inclusion system.

Since its first launch in 2010 the program has registered two million new accounts with total funds collected reaching US$200 million or Rp2 trillion.

The governor of Yogyakarta, Sri Sultan Hamengku Buwono X meanwhile said micro-businesses have played a strategic role in the national economic development.

In view of that developing them by opening their access to banks is very important, he said. (M014/YH/O001)

Editor: Kunto Wibisono
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