President Prabowo Slashes Super Micro Credit 'Mekaar' Interest Rate from 22% to 8%

The interest rate for the Super Micro Credit programme ‘Mekaar’, which stands for Fostering Prosperous Economic Families, has been reduced to 8%. President Prabowo Subianto personally announced the cut from the previous rate of 22%.

"The Mekaar super micro credit, which previously had an interest rate of 22%, I have reduced to 8%," Prabowo said during the peak commemoration of the 79th National Cooperatives Day in 2026 on Sunday (12/7/2026).

Prabowo revealed that he had actually wanted to lower the rate to 5%. However, he said bankers requested that it not be reduced that much because their income would become too thin. Consequently, the reduction was set at 8%. He noted that the size of the Mekaar interest rate cut was still quite good.

"Okay, 8%. But compared to 22%, 8% is not bad," he stated.

Prabowo continued that the Koperasi Merah Putih (KMP) will become an integrated village economic service centre. Various services will be available, from a cooperative office, a basic necessities shop, savings and loan services, logistics, to a pharmacy. He explained that the pharmacy would sell medicines at cheaper prices than those in city pharmacies. Meanwhile, the cooperative will have a cold storage room to prevent farmers’ produce from spoiling.

"There will be cold storage, a cooling room, so that farmers’ produce does not spoil, and various other services," he explained.