Jakarta - The Indonesian Chamber of Commerce and Industry (Kadin), in collaboration with the Ministry of Housing and Settlement Areas (PKP) and the Daya Anagata Nusantara Investment Management Agency (BPI Danantara), held a Socialization Event for the People's Business Credit (KUR) for Housing at Wisma Danantara Indonesia, Jakarta, on Monday (September 8, 2025).

The event, titled "Collaborative Efforts to Expand Access to Housing Credit for the People", highlighted the benefits of the Housing Credit Program (KPP) in helping MSMEs (Micro, Small, and Medium Enterprises) level up within the people’s housing ecosystem.

Chairman of Kadin Indonesia, Anindya Novyan Bakrie, reiterated the business sector’s strong support for President Prabowo Subianto’s program to build 3 million homes. Anindya, commonly known as Anin, emphasized the housing sector’s significant multiplier effect on the national economy.

“Why is KadinIndonesia so keen to support the President’s program? Because its impact is widespread and evident. Around 9 million people are employed in the housing construction services sector. Each house involves 5–6 workers and about 140 vendors ranging from cement and steel suppliers to transport services. The multiplier effect is enormous,” said Anin.

Anin further noted that the key to successful development, particularly in the housing sector, lies in collective cooperation (gotong royong). He highlighted that high capital costs have long been a barrier for entrepreneurs, and the KPP program offering subsidized interest rates of 5% would be a substantial improvement over commercial banking rates.

“This is lower than market rates, which range between 9–12%. This scheme aligns with practices in neighboring countries like Thailand (6%), the Philippines (6-9%), and Vietnam (5-6%). So, with this interest subsidy, we gain tremendous benefits that can drive a more competitive economy,” Anin explained.

The government, Anin continued, has launched the 3 Million Homes Program to reduce the housing backlog that has persisted for years, currently totaling around 26 million units. He stressed that the success of the Housing KUR is vital, as it is a major initiative and a priority program that encourages MSMEs to participate in both the construction and renovation of housing.

“In other words, each house built is not just about providing shelter, but also about driving the economy. With this interest subsidy, there are numerous benefits that will make our economy more competitive,” Anin reiterated.

He also stated that Kadin’s widespread network, reaching down to the district and city levels, would play an important role in expanding the outreach of the program. The participation of national, private, and regional development banks (BPD) at the event was also seen as a positive signal.

“I’ve traveled to many regions and observed that local governments are looking for new growth stories. The 3 Million Homes Program is a very effective solution. With a housing backlog of 26 million, this target is absolutely achievable,” Anin asserted.

Meanwhile, Minister of Housing and Settlement Areas, Maruarar Sirait, expressed his optimism that the Housing KUR would enable MSMEs to advance. According to Maruarar, also known as Ara, the scheme provides both working capital and investment credit, thereby boosting both the supply and demand for housing.

“I’m pleased that KadinIndonesia and Danantara are supporting the KUR Housing outreach efforts. MSMEs can leverage this program to grow and thrive, especially with the government bearing a 5% interest rate—lower than commercial bank rates,” Ara stated.

Ara emphasized that the Housing KUR represents a historic milestone, as it is the first of its kind to be launched under President Prabowo Subianto’s administration. He noted that support from Kadinand Danantara is crucial to ensuring the program promotes equitable development across Indonesia.

“What Mr. Anin is doing as Kadin Chairman is truly commendable. This ensures equal opportunities enabling small businesses to grow into medium ones, and medium businesses to become large. That’s the spirit of the Housing KUR,” Ara concluded.

For reference, the 3 Million Homes Program has been designated as one of the 77 National Strategic Projects (PSN) for the 2025–2029 period.

To support the realization of this PSN, policy relaxation for KUR is necessary to encourage entrepreneurs in the housing sector to provide affordable housing products for the public.

This housing credit program provides working capital or investment financing for individual or corporate MSMEs. It is part of the government’s broader effort to support the achievement of priority goals in the housing sector. Through BPI Danantara, the government plans to allocate IDR 130 trillion for the Housing KUR.