DKI Jakarta Expands Formal Financing Access for Kramat Jati Market Traders
The Jakarta Provincial Government is expanding formal financing access for traders at the Kramat Jati Wholesale Market through a collaboration between Bank Jakarta and Pasar Jaya. The scheme includes the People’s Business Credit (KUR) and non-KUR financing, with credit ceilings reaching up to Rp500 million.
The programme is expected to assist traders in maintaining business continuity, increasing capacity, and strengthening the grassroots economy in Jakarta.
“This wholesale market has more than 5,000 business premises, so the need for financing is certainly significant,” said the Deputy Governor of Jakarta, Rano Karno, in an official statement in Jakarta on Tuesday.
To date, 167 traders at the Kramat Jati Wholesale Market have obtained financing with a total ceiling of approximately Rp48 billion, and access is now being extended to an additional 100 traders.
Rano emphasised that the expansion of capital access must be accompanied by an increase in financial literacy, ensuring that financing truly encourages businesses to grow in a healthy and sustainable manner.
The Jakarta Provincial Government is also continuing to promote digitalisation within Jakarta’s markets to ensure transactions and business management become more efficient. Regional-owned enterprises (BUMD) have been instructed to continue providing services that meet the needs of business actors and support regional economic resilience.
Meanwhile, the President Director of Bank Jakarta, Agus Haryontowidodo, stated that as of June 2024, financing to market traders across Jakarta reached an outstanding balance of approximately Rp326 billion across 2,388 debtors.
Specifically for the Kramat Jati Wholesale Market, credit distribution had reached approximately Rp48 billion for 167 traders prior to the mass signing ceremony held today.
“The success of this programme is not measured by how much credit we disburse. True success is when this financing enables traders’ businesses to expand, turnover to increase, jobs to be created, and more Jakarta MSMEs to move up to the next level,” said Agus.