ANNOUNCEMENT 31 May 2020
In May 2020, Indonesia provided an interest rate subsidy for MSME credits with a total budget of at least USD 1260.5 million by using loans from the Asian Infrastructure Investment Bank (AIIB), the World Bank, and KfW.
NUMBER OF INTERVENTIONS
The AIIB Document Code No.PD000391-PSI-IDN: https://www.aiib.org/en/projects/details/2020/approved/_download/Indonesian/PSI-Indonesia-CARES-program-May-20-2020-approval-update.pdf
On 31 May 2020, the Asian Infrastructure Investment Bank (AIIB), the World Bank, and KfW provided loans of USD 2521 million in total for the COVID-19 Active Response and Expenditure Support Program launched by Indonesia. As part of the program, at least 50 percent (USD 1260.5 million) of the loans should be used to support at least 10,000 MSMEs by providing an interest rate subsidy.
The scheme also includes other measures that were out of the scope of the GTA, specifically:
The disbursement of the loan will start from 31 May 2020 to 31 March 2021 and the resources will be used by the Indonesian authorities to finance the above-mentioned measures.