Bank Papua and Southwest Papua government expand credit access for MSMEs

The Southwest Papua Provincial Government is collaborating with Bank Papua to expand access to People's Business Credit (KUR) for Micro, Small, and Medium Enterprises (MSMEs), with a specific focus on indigenous Papuans (OAP).

Through a strategic meeting in Sorong, officials from the Department of Cooperatives, MSMEs, Industry, and Trade (KUKM Perindag) and Bank Papua management discussed optimizing credit access to drive grassroots economic growth. Key initiatives include simplifying administrative processes for remote areas and implementing the “Bankable MSME” program. This program provides guidance on business legality, such as obtaining Business Identification Numbers (NIB), administrative organization, and basic financial reporting to ensure businesses are prepared for bank financing. Additionally, Bank Papua is expected to provide financial literacy education and post-financing assistance to ensure funds are used productively.