146 PMK.05 2015per Translate ++

MINISTER OF FINANCE
OF THE REPUBLIC OF INDONESIA
COPY OF
REGULATION OF THE MINISTER OF FINANCE OF
THE REPUBLIC OF INDONESIA
NUMBER 146/PMK.05/2015
REGARDING
PROCEDURE FOR IMPLEMENTATION OF INTEREST SUBSIDY FOR PEOPLE’S
BUSINESS CREDIT
BY THE GRACE OF GOD ALMIGHTY
THE MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA,
Considering : a. whereas in order to realize the
development of bank financing and non-
bank financial institution for Micro,
Small, and Medium Enterprise through
the integrated implementation of credit
guarantee/financing program and
interest subsidy, Committee for
Financing Policy for Micro, Small, and
Medium Enterprise has been established
under Presidential Decree Number 14 of
2015 regarding Committee for Financing
1
Policy for Micro, Small, and Medium
Enterprise as amended by the
Presidential Decree Number 19 of 2015;

b. whereas in accordance with Article 8 of
Presidential Decree Number 14 of 2015
regarding Committee for Financing
Policy for Micro, Small, and Medium
Enterprise as amended by the
Presidential Decree Number 19 of 2015,
provision regarding guarantee fee,
interest subsidy and/or other
facilities for the implementation of
financing policy for Micro, Small, and
Medium Enterprise shall be regulated
under the Regulation of the Minister of
Finance by taking into account the
policy stipulated by the Committee for
Financing Policy for Micro, Small, and
Medium Enterprise;
c. whereas based on considerations as
referred to in letters a and b, it is
necessary to stipulate the Regulation
of the Minister of Finance regarding
Procedure for Implementation of
Interest Subsidy for People’s Business
Credit;
2
In view of : 1. Law Number 1 of 2004 regarding State
Treasury (Supplement Number 4355 to the
State Gazette of the Republic of
Indonesia Number 5 of 2004);

2. Government Regulation Number 90 of 2010
regarding Preparation of Work Plan and
Budget State Ministry/Institution
(Supplement Number 5178 to the State
Gazette of the Republic of Indonesia
Number 152 of 2010);

3. Government Regulation Number 45 of 2013
regarding Procedure for Execution of
State Budget Revenues and Expenditures
(Supplement Number 5423 to the State
Gazette of the Republic of Indonesia
Number 103 of 2013);

BE IT HEREBY RESOLVED:
To stipulate : REGULATION OF THE MINISTER OF FINANCE
REGARDING PROCEDURE FOR IMPLEMENTATION OF
INTEREST SUBSIDY FOR PEOPLE’S BUSINESS
CREDIT.
CHAPTER I
GENERAL REQUIREMENTS
Article 1
As intended herein, the following terms shall have the
corresponding meaning as referred to hereunder:
3
1. People’s Business Credit, hereinafter abbreviated as KUR,
shall mean working capital financing credit and/or
investment of which fund is sourced from Implementing
Bank to debtor granted Interest Subsidy facility by the
Government which consists of micro, retail, and
Indonesian manpower credits.
2. Implementing Bank shall mean Commercial Bank which
implements KUR Program as stipulated/appointed by the
Coordinating Minister for Economic Affairs as the Head of
Committee for Financing Policy for Micro, Small, and
Medium Enterprise in its capacity as the KUR distributor.
3. Interest Subsidy for KUR, hereinafter referred to as
Interest Subsidy, shall mean subsidy in interest portion
at the expense of the Government in the amount of the
difference between interest rate received by Implementing
Bank and interest rate charged to KUR participant.
4. KUR Joint Financing Agreement shall mean agreement
between Proxy of Budget User on behalf of the Minister of
Finance representing the Government and Implementing
Bank.
5. Committee for Financing Policy for Micro, Small, and
Medium Enterprise, hereinafter referred to as Policy
Committee, shall mean committee established by the
President under a Presidential Decree which serves as
guidance for KUR Program policy.
4
6. KUR Financing Annual Planning, hereinafter abbreviated as
RTP-KUR, shall mean KUR financing planning established by
Implementing Bank for the period of 1 (one) Fiscal Year.
7. Budget User, hereinafter abbreviated as PA, shall mean an
official having the authority in and responsibility of
budget use in the relevant State Ministry/Institution.
8. Proxy of Budget User, hereinafter abbreviated as KPA,
shall mean an official gaining the authority in and
responsibility of, from PA, budget use allocated under
its power.
9. State Budget Revenues and Expenditures, hereinafter
abbreviated as APBN, shall mean annual financial planning
of the state government which is approved by the House of
Representatives.
10. Budget Execution Document/Allotment, hereinafter
abbreviated as DIPA, shall mean a Budget Execution
Document used as a reference by Budget User in performing
government work as the executor or APBN.
11. Finance and Development Supervisory Agency, hereinafter
abbreviated as BPKP, shall mean government internal
supervisory apparatus directly responsible to the
President.
12. Minister shall mean the Minister administering government
affairs in state finance.
5
CHAPTER II
PURPOSE
Article 2
(1) Interest Subsidy is aimed to provide support for the
implementation of KUR Program to entrepreneur.
(2) Entrepreneur as referred to in paragraph (1) shall mean
entrepreneur as stipulated by the Coordinating Minister
for Economic Affairs based on the result of Policy
Committee meeting.
(3) Interest Subsidy as referred to in paragraph (1) shall be
paid by the Government to Implementing Bank.
CHAPTER III
PROCEDURE FOR IMPLEMENTATION OF INTEREST SUBSIDY
Article 3
(1) Interest Subsidy fund shall be allocated in the APBN.
(2) Minister as the Budget User for subsidy expenditure
budget shall appoint an officer in the
ministry/institution in charge with Interest Subsidy for
KUR as the KPA.
(3) The appointment of KPA as referred to in paragraph (2),
Minister may take into account advice from Policy
Committee.
6
(4) KPA as referred to in paragraph (2) shall be appointed by
a Ministerial Decree.
Article 4
Payment of Interest Subsidy shall be carried out through KUR
joint financing expressed in Joint Financing Agreement between
KPA and Implementing Bank.
Article 5
(1) At the beginning of each Fiscal Year, Implementing Bank
shall submit RTP-KUR for the Following Fiscal Year to KPA
per type of credit based on:
a. estimated outstanding KUR in the Following Fiscal
Year; and
b. ceiling of KUR annual distribution of relevant
Implementing Bank determined by Policy Committee.
(2) RTP-KUR as referred to in paragraph (1) shall be
submitted by Implementing Bank to KPA no later than the
first week of January.
(3) KPA shall prepare Interest Subsidy fund allocation
planning based on:
a. RTP-KUR as referred to in paragraph (1); and
b. unpaid Interest Subsidy in the previous period.
(4) KPA shall submit Interest Subsidy fund allocation
planning to officer at echelon I level in the Ministry of
7
Finance who performs the function of Budget User of
expenditure budget subsidy no later than the end of
January.
(5) Preparation of Interest Subsidy fund allocation in APBN
and preparation of DIPA shall comply with the provisions
of laws and regulations.
Article 6
(1) Ceiling of KUR annual distribution determined by Policy
Committee and current outstanding KUR shall represent the
highest limit of basis of calculation of the payment of
Interest Subsidy.
(2) Surplus of KUR distribution which exceeds the ceiling of
KUR annual distribution as referred to in paragraph (1)
shall not be provided with Interest Subsidy.
Article 7
(1) Amount of Interest Subsidy stipulated by Minister by
taking into account policy determined by Policy
Committee.
(2) For the purpose of determining the amount of Interest
Subsidy, Minister shall carry out evaluation by taking
into account:
a. Government ability in providing subsidy expenditure
allocation; and/or
b. other supporting data and information.
8
(3) Initially, amount of Interest Subsidy as referred to in
paragraph (1) paid to Implementing Bank shall be
determined as follows:
a. micro credit 7% (seven percent) per annum;
b. retail credit 3% (three percent) per annum; and
c. Indonesian manpower credit 12% (twelve) per annum.
Article 8
(1) Calculation of Interest Subsidy payment shall be made
based on the amount of Interest Subsidy multiplied by
outstanding KUR from time to time.
(2) Calculation of Interest Subsidy as referred to in
paragraph (1) shall be paid monthly to Implementing Bank.
(3) Implementing Bank shall submit request for payment of
Interest Subsidy to KPA in the following month for
payment of interest that is due.
(4) In the event that Program Credit Information System has
not been set up, calculation of Interest Subsidy as
referred to in paragraph (1) shall be paid every 3
(three) months to Implementing Bank.
(5) Implementing Bank shall submit request for payment of
Interest Subsidy to KPA as referred to in paragraph (4)
in:
9
a. February for Interest Subsidy of November of the
previous year up to January;
b. May for Interest Subsidy of February up to April;
c. August for Interest Subsidy of May up to July; and
d. November for Interest Subsidy of August up to
October.
Article 9
(1) Request for payment of Interest Subsidy as referred to in
Article 8 shall be enclosed with supporting data as
follows:
a. Request Letter for Payment of Interest Subsidy in
accordance with the format set out in Appendix I
which forms an inseparable part hereof;
b. Details of Interest Subsidy claim per type of credit
in accordance with the format set out in Appendix
II, Appendix III, and Appendix IV which forms an
inseparable part hereof;
c. Recapitulation of claim in accordance with the
format set out in Appendix V which forms an
inseparable part hereof;
d. Receipt or payment slip signed by the Director of
Implementing Bank; and
e. Computer data file of Interest Subsidy.
10
(2) Computer data file as referred to in paragraph (1) letter
e shall be uploaded by Implementing Bank into the Program
Credit Information System.
(3) In the event that Program Credit Information System has
not been set up, payment request supporting data as
referred to in paragraph (1) shall be enclosed with a
copy of KUR Debtor Current Account.
(4) Authenticity of supporting data for request for payment
of Interest Subsidy as referred to in paragraph (1) shall
be the responsibility of Implementing Bank.
Article 10
(1) KPA shall carry out verification of request for payment
of Interest Subsidy submitted by Implementing Bank based
on debtor data available in the Program Credit
Information System.
(2) Result of verification as referred to in paragraph (1)
shall be expressed in Official Report of Verification
signed by KPA and Implementing Bank.
(3) Verification of request for payment of Interest Subsidy
as referred to in paragraphs (1) and (2) shall be carried
out in accordance with standard operating procedure
determined by KPA.
Article 11
11
(1) KPA may request for BPKP assistance to carry out
verification of request for payment of Interest Subsidy
submitted by Implementing Bank.
(2) Result of verification of request for payment of Interest
Subsidy carried out by BPKP as referred to in paragraph
(1) shall be expressed in Official Report of Verification
signed by BPKP and Implementing Bank.
(3) Implementation of verification as referred to in
paragraphs (1) and (2) shall refer to the criteria
mutually agreed between KPA and BPKP and shall be in
accordance with the standard operating procedure
determined by KPA.
Article 12
In the event that Program Credit Information System has not
been set up, debtor data used shall refer to the data in
Implementing Bank.
Article 13
Authenticity of debtor data as referred to in Article 10
paragraph (1) and Article 12 shall be the full responsibility
of Implementing Bank.
Article 14
(1) Interest Subsidy Fund of Fiscal Year 2015 initially shall
be allocated from part of expenditure budget allocation
12
for subsidy of Guarantee Fee of People’s Business Credit
of Fiscal Year 2015.
(2) Procedure for disbursement of Interest Subsidy by KPA
shall be carried out in compliance with the provisions of
laws and regulations in execution of APBN.
CHAPTER IV
AUDIT, ACCOUNTING, and REPORTING
Article 15
For the purpose of audit in monitoring and evaluation carried
out by Policy Committee and/or KPA, Implementing Bank shall be
required to submit report, information and/or data relevant to
the implementation of KUR to the Government.
Article 16
In the event that during the audit as referred to in Article
15 it is found that KUR distribution is not in compliance with
the provisions of laws and regulations, Interest Subsidy paid
shall be returned by Implementing Bank to the State’s Account.
Article 17
KPA shall maintain accounting and financial reporting in
compliance with the provisions of laws and regulations.
CHAPTER V
ADMINISTRATIVE SANCTION
Article 18
13
(1) Any violation to the provision as referred to in Article
15 shall be subject to administrative sanction in the
form of:
a. warning;
b. postponement of subsidy payment; or
c. termination of agreement.
(2) Imposition of administrative sanction as referred to in
paragraph (1) shall be the authority of KPA.
(3) Imposition of administrative sanction as referred to in
paragraph (2) shall be determined by decision from KPA.
(4) Administrative sanction as referred to in paragraph (1)
shall not always be imposed in such sequence.
(5) Administrative sanction as referred to in paragraph (1)
shall be stated in Joint Financing Agreement between KPA
and Implementing Bank as referred to in Article 4.
CHAPTER VI
TRANSITIONAL PROVISION
Article 19
Implementation of Guarantee fee of People’s Business Credit
which has been distributed up to December 31 2014, prior to
the enactment of this Ministerial Regulation, shall remain to
refer to the provisions under the Regulation of the Minister
of Finance Number 190/PMK.05/2014 regarding Procedure for
14
Implementation of Guarantee Fee of People’s Business Credit up
to the expiration date of KUR guarantee in accordance with the
Joint Guarantee Agreement between KPA and Guarantee Company.
CHAPTER VII
CLOSING PROVISIONS
Article 20
Upon the enactment of this Ministerial Regulation, Regulation
of the Minister of Finance Number 105/PMK.05/2015 regarding
Procedure for Implementation of Guarantee Fee of Micro
People’s Business Credit shall be revoked and declared as
invalid.
Article 21
This Ministerial Regulation shall come into effect as of the
date of its promulgation.
For public cognizance, this Ministerial Regulation shall be
announced by publishing it in the State Gazette of the
Republic of Indonesia.
Enacted in Jakarta
on July 30, 2015
MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA,
Signed.
BAMBANG P.S. BRODJONEGORO
Promulgated in Jakarta
15
On July 30, 2015
MINISTER OF LAW AND HUMAN RIGHTS OF
THE REPUBLIC OF INDONESIA,
Signed.
YASONNA H. LAOLY
STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 1127 OF 2015
Certified true copy
HEAD OF GENERAL BUREAU
on his behalf
HEAD OF ADMINISTRATION DEPT. OF THE MINISTRY
Signed and sealed
GIARTO
NIP 195904201984021001
16
APPENDIX I
REGULATION OF THE MINISTER OF
FINANCE OF THE REPUBLIC OF
INDONESIA NUMBER 146/PMK.05/2015
REGARDING PROCEDURE FOR
IMPLEMENTATION OF INTEREST
SUBSIDY FOR PEOPLE’S BUSINESS
CREDIT
REQUEST LETTER FOR PAYMENT OF INTEREST SUBSIDY FOR PEOPLE’S
BUSINESS CREDIT
Letterhead of Implementing Bank
Number : ...(place)...,...(date)...
Attachment : 1 (one) document
Subject : Request for Interest Subsidy Payment for
People’s Business Credit
To
...(fill in the position of Proxy of Budget User)...
...(fill in the place of domicile of Proxy of Budget User)...
With reference to the implementation of People’s Business
Credit (KUR) program by .....(fill in the name of Implementing
Bank)....., hereby we would like to submit KUR Interest
Subsidy claim as follows:
Period : (fill in the period of KUR claim)
17
Amount : (fill in the nominal amount of claim in figures
and in words)
Disbursement for the said claim shall be transferred to the
following account:
Account Name : (fill in the account of Implementing Bank)
Tax Payer Identification Number : (fill in the Tax Payer
Identification Number of Implementing
Bank)
Bank : (fill in the name of bank of Implementing
Bank account)
Account Number : (fill in the account number of
Implementing Bank account)
Authenticity of supporting data enclosed to this letter shall
be our full responsibility.
Hereby we conclude our request. Thank you for your kind
cooperation.
.....(fill in the name of Implementing Bank).....
Director,
(fill in the name of Director of Implementing Bank)
Signed.
18
Certified true copy
on his behalf
Signed and sealed
GIARTO
NIP 195904201984021001
19
APPENDIX II
THE REPUBLIC OF INDONESIA NUMBER
146/PMK.05/2015 REGARDING PROCEDURE FOR
IMPLEMENTATION OF INTEREST SUBSIDY FOR
PEOPLE’S BUSINESS CREDIT
DETAILS OF INTEREST SUBSIDY CLAIM FOR MICRO PEOPLE’S BUSINESS CREDIT
Details of Interest Subsidy Claim for Micro People’s Business Credit (Micro KUR)
from...(fill in the name of Implementing Bank)...
Period of Micro KUR: ...(fill in the period of Interest Subsidy claim for Micro KUR)...
Status of Outstanding KUR per

% of Interest Rate
Date & Credit Number of Type of Credit
Agreement % of
Debtor Number of Credit Day of Claim
Working % of
No
B=New Investment Interest
Name Credit Period Outstanding Value
Capital Interest
P=Extension
Credit to
Agreement Interest
S=Suppletion Credit Subsidy
Debtor
R=Restructuring
Business Sector : ...(fill in the name of business sector)...
20
1
2
3
.
1
2
3
.
1
2
3
.
1
2
3
.
Total
Notes:
1. Interest Subsidy for Micro KUR: (fill in the applicable Interest Subsidy)
2. Recapitulation shall be made per business sector;
3. Current Account is enclosed.
Director,
21
Signed.
Certified true copy
on his behalf
Signed and sealed
GIARTO
NIP 195904201984021001
22
APPENDIX III
DETAILS OF INTEREST SUBSIDY CLAIM FOR RETAIL PEOPLE’S BUSINESS CREDIT
Details of Interest Subsidy Claim for Retail People’s Business Credit (Retail KUR)
Period of Retail KUR: ...(fill in the period of Interest Subsidy claim for Retail KUR)...
Status of Outstanding KUR per

% of Interest Rate
Date & Credit Number of Type of Credit
Agreement % of
Working % of
No
B=New Investment Interest
Capital Interest
P=Extension
Credit to
Agreement Interest
S=Suppletion Credit Subsidy
Debtor
R=Restructuring
23
1
2
3
.
1
2
3
.
1
2
3
.
1
2
3
.
Total
Notes:
1. Interest Subsidy for Retail KUR: (fill in the applicable Interest Subsidy)
2. Recapitulation shall be made per business sector;
Director,
24
Signed.
Certified true copy
on his behalf
Signed and sealed
GIARTO
NIP 195904201984021001
25
APPENDIX IV
DETAILS OF INTEREST SUBSIDY CLAIM FOR INDONESIAN MANPOWER PEOPLE’S BUSINESS CREDIT
Details of Interest Subsidy Claim for Indonesian Manpower People’s Business Credit (Indonesian
Manpower KUR)
Period of Indonesian Manpower KUR: ...(fill in the period of Interest Subsidy claim for
Indonesian Manpower KUR)...
Status of % of Interest Rate
Date & Credit Number of

% of
Agreement % of
Interest
No Outstanding KUR
B=New Interest
to
P=Extension
Subsidy
Agreement Interest
S=Suppletion Debtor
R=Restructuring
Destination Country : ...(fill in the name of destination country)...
1
2
26
3
.
1
2
3
.
1
2
3
.
1
2
3
.
Total
Notes:
1. Interest Subsidy for Indonesian Manpower KUR: (fill in the applicable Interest Subsidy)
2. Recapitulation shall be made per destination country;
Director,

Signed.
27
Certified true copy
on his behalf
Signed and sealed
GIARTO
NIP 195904201984021001
28
APPENDIX V
RECAPITULATION OF INTEREST SUBSIDY CLAIM FOR MICRO/RETAIL/INDONESIAN MANPOWER PEOPLE’S BUSINESS
CREDIT
Recapitulation of Interest Subsidy Claim for Micro/Retail/Indonesian Manpower People’s Business
Credit (KUR)
Period of Micro/Retail/Indonesian Manpower KUR: ...(fill in the period of Interest Subsidy claim
for Micro/Retail/Indonesian Manpower KUR)...
Business Sector/
Ceiling of Credit
No Destination Debit Credit Balance Claim Value
Distribution
Country
29
1
2
.
Total
Director,

Signed.
Certified true copy
on his behalf
Signed and sealed
GIARTO
NIP 195904201984021001
30

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MINISTER OF FINANCE

OF THE REPUBLIC OF INDONESIA

REGULATION OF THE MINISTER OF FINANCE OF

THE REPUBLIC OF INDONESIA

PROCEDURE FOR IMPLEMENTATION OF INTEREST SUBSIDY FOR PEOPLE’S

BY THE GRACE OF GOD ALMIGHTY

THE MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA,

Considering : a. whereas in order to realize the

development of bank financing and non-

bank financial institution for Micro,

Small, and Medium Enterprise through

the integrated implementation of credit

guarantee/financing program and

interest subsidy, Committee for

Financing Policy for Micro, Small, and

Medium Enterprise has been established

under Presidential Decree Number 14 of

2015 regarding Committee for Financing

Enterprise as amended by the

Presidential Decree Number 19 of 2015;

Presidential Decree Number 14 of 2015

regarding Committee for Financing

Policy for Micro, Small, and Medium

Enterprise as amended by the

Presidential Decree Number 19 of 2015,

provision regarding guarantee fee,

interest subsidy and/or other

facilities for the implementation of

financing policy for Micro, Small, and

Medium Enterprise shall be regulated

under the Regulation of the Minister of

Finance by taking into account the

policy stipulated by the Committee for

Financing Policy for Micro, Small, and

referred to in letters a and b, it is

necessary to stipulate the Regulation

of the Minister of Finance regarding

Procedure for Implementation of

Interest Subsidy for People’s Business

Treasury (Supplement Number 4355 to the

State Gazette of the Republic of

Indonesia Number 5 of 2004);

regarding Preparation of Work Plan and

Budget State Ministry/Institution

(Supplement Number 5178 to the State

Gazette of the Republic of Indonesia

Number 152 of 2010);

regarding Procedure for Execution of

State Budget Revenues and Expenditures

(Supplement Number 5423 to the State

Gazette of the Republic of Indonesia

Number 103 of 2013);

REGARDING PROCEDURE FOR IMPLEMENTATION OF

INTEREST SUBSIDY FOR PEOPLE’S BUSINESS

As intended herein, the following terms shall have the

corresponding meaning as referred to hereunder:

shall mean working capital financing credit and/or

investment of which fund is sourced from Implementing

Bank to debtor granted Interest Subsidy facility by the

Government which consists of micro, retail, and

Indonesian manpower credits.

2. Implementing Bank shall mean Commercial Bank which

implements KUR Program as stipulated/appointed by the