COVID-19: Indonesia Announces Additional Financial Support for MSMEs in Its Efforts to Boost Economic Growth

In its latest move to support economic growth amidst the COVID-19 pandemic, the Government of Indonesia has announced its plans to provide cash transfers and working capital loans for micro, small and medium-sized enterprises (MSMEs).

Last week, the Head of the National Economic Recovery Task Force (NERTF), Budi Gunadi Sadikin, stated that the Government would facilitate IDR 2.4 million for 10-12 million MSMEs, and also provide up to IDR 2 million in working capital loans for MSMEs. In addition, Budi stated that low-interest working capital loans would also be provided for those who had already started businesses.

These measures will help the NERTF to focus on increasing economic g...