Jakarta | The Ministry of State-Owned Enterprises (BUMN) has specifically requested Perum Jamkrindo to support the success of the People’s Business Credit (KUR) program. The government has set the interest rate for micro KUR loans at 12%, a significant decrease from the previous year’s rate of 22%.
“We ask Perum Jamkrindo and its team to ensure the success of the government’s KUR program, which will be implemented soon,” said Minister of BUMN Rini Soemarno in Jakarta on Friday (August 21, 2015).
Rini conveyed this message directly to Perum Jamkrindo’s President Director, Diding S. Anwar, during a visit to the company’s booth at the BUMN Indonesia Hebat exhibition at Gelora Bung Karno, Jakarta. She emphasized the importance of Perum Jamkrindo’s role as the only state-owned guarantee company in ensuring the success of the KUR program for MSMEs.
Diding S. Anwar expressed readiness to support the program, stating that Perum Jamkrindo would not only focus on loan guarantees but also provide guidance in marketing, financial management, product packaging, and administration to strengthen MSMEs' competitiveness, especially with the upcoming ASEAN Economic Community (AEC).
According to Diding, the Minister’s assignment is appropriate, as credit guarantee companies play a vital role in MSME development in many developed countries. Perum Jamkrindo, along with other members of the Indonesian Credit Guarantee Association (Asippindo), aims to achieve a guarantee volume target of over IDR 100 trillion this year, with Perum Jamkrindo’s contribution expected to reach IDR 81.78 trillion by the end of 2015.
Diding also highlighted the significant potential of MSMEs and cooperatives in Indonesia, which account for 99% of the 57.54 million businesses in the country, contributing 59.08% to the national GDP and employing 97.16% of the workforce. However, despite being feasible, many MSMEs lack access to bank financing, which is where guarantee companies step in.
Finally, Rini Soemarno reminded that state-owned enterprises must be prepared to face the global market, emphasizing that strong competitiveness should be reflected not only in exhibitions but also through solid performance.
For reference, the government’s latest KUR policies include Micro KUR with a maximum limit of IDR 25 million, Retail KUR for loans between IDR 25 million and IDR 500 million, and KUR for Indonesian migrant workers (TKI) with a 12% interest rate.