TEMPO.CO, Jakarta - Indonesian President Prabowo Subianto has ordered a reduction in the interest rate of the National Capital Madani (PNM) Mekaar program. He wants the interest rate to change from the current 24 percent to below 9 percent.
"This is a political decision; I have decided that the interest rate for the National Capital Madani, for underprivileged family credit, must be reduced from 24 percent to below 10 percent, it must be below 9 percent," Prabowo said during a speech at the Attorney General's Office in Jakarta on Wednesday, May 13, 2026.
Prabowo stated that access to financing for the Indonesian people has been unequal. Micro-businesses often receive loans at higher interest rates than large companies.
"Big business owners might be able to get loans from the bank at 10 or 9 percent. Imagine the wealthy are given 9 percent while the poor face 24 percent. This is the state of Pancasila, I don't understand," said the former Defense Minister.
Prabowo mentioned that the country must ensure that the lower class does not bear a heavier financial burden than the upper class. "Our reference is Pancasila and the 1945 Constitution, not just slogans. We want to realize the true situation," he added.
As quoted from the State-Owned Enterprise Regulatory Agency (BP BUMN) website, PNM Mekaar is a funding service for underprivileged women micro-business owners. Its goal is to provide easier access to funding than applying for a bank loan.
This program is operated by PT PNM, a subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk or BRI. The PT PNM website states that they are the largest financing and empowerment institution for underprivileged women worldwide, serving a total of 22.7 million customers throughout Indonesia.
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