JAKARTA - The Coordinating Ministry for Economic Affairs stated that People's Business Credit (KUR) debtors will be exempt from interest and principal payments for six months. This was done to help the Micro, Small and Medium Enterprises (MSME) sector to survive during the economic slowdown caused by the COVID-19 pandemic.
"This policy is in effect since 1 April 2020. Those who will be exempt from interest and principal payments for a maximum of six months, must pass the assessment done by their respective KUR distributors," said Coordinating Minister for Economic Affairs Airlangga Hartarto said in a press release in Jakarta after a meeting on Wednesday (8/4).
The total accumulated KUR distribution from August 2015 to 29 February 2020 reached Rp 507.00 trillion, with Non Performing Loan (NPL) ratio of 1.19%.(LK/AR)