Yudhoyono`s success in developing KUR credit scheme recognized

Yudhoyono`s success in developing KUR credit scheme recognized

President Susilo Bambang Yudhoyono (left) has received a letter of recognition for its successful leadership in developing micro-credit in Indonesia from the campaign director of the Global Micro-credit Summit, Larry Reed, at an International Micro-Finance Conference in Yogyakarta on Monday (Oct. 22). (ANTARA/Noveradika)

President Yudhoyono`s leadership has successfully accelerated distribution of credit.
Yogyakarta (ANTARA News) - President Susilo Bambang Yudhoyono has received a letter of recognition for its successful leadership in developing micro-credit in Indonesia.

The award was presented by the campaign director of the Global Micro-credit Summit, Larry Reed, at an International Micro-Finance Conference here on Monday.

"The Letter of Recognition is given for the vision and example that has been shown to the world community in promoting micro-finance sector to reduce poverty," Larry said when presenting the award.

He said Indonesia under President Yudhoyono`s leadership has successfully accelerated distribution of credit for micro-, small and medium businesses to empower low-income community members.

President Yudhoyono said he received the appreciation on behalf of the whole people that have worked hard to develop the program.

"I hope with it all micro-finance participants as well as the whole people of Indonesia would further develop the program so that we would be more successful in our efforts to alleviate poverty," he said.

Minister of cooperatives and small and medium businesses Syarif Hasan earlier said that the conference served as a forum for exchanging information, ideas and new knowledge to encourage innovations in the micro-finance industry.

He said the meeting was the first staged in Indonesia and attended by representatives from 23 countries with total participants reaching 420.

"The government has successfully implemented micro-financing through KUR and this has to be made known to the international community," he said.

He said he had successfully implemented micro-finance through KUR (credit scheme for micro-, small and medium businesses) to reduce poverty and unemployment in the country.

He said bigger access for micro-, small and medium businesses to financial sources through micro-financial institutions is needed to achieve the Millennium Development Goals.

The participants of the conference include Prof Muhammad Yunus who is the founder of Grameen Bank and a Nobel Prize winner, Larry Reed and Jay Rosengard from Harvard University.
(T.G003/H-YH/O001)

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