JAKARTA, thekabarnews.com—The Finance Ministry has prepared funds for the first repayment on financing used to accelerate the construction of facilities for the Merah Putih Village/Subdistrict Cooperative (KDKMP).

The government has yet to release the money because state-owned banks have not submitted a formal claim with the required supporting documents.

The payment is due in September 2026. It has been widely estimated at Rp37.7 trillion (US$2.2 billion), including principal and interest.

The ministry said the final amount would depend on the claim filed by the Association of State-Owned Banks (Himbara).

“As of now, we have not received the claim from Himbara, so we cannot make the payment yet. However, we have prepared the budget,” acting Fiscal Balance Director General Nufransa Wira Sakti said at an APBN Kita press briefing on September 18.

He said the Finance Ministry would process the payment after Himbara submitted its claim. The parties must comply with Finance Ministerial Regulation No. 15/2026.

Under the regulation, Himbara provides syndicated credit to state-owned PT Agrinas Pangan Nusantara to finance the construction of cooperative outlets and warehouses. It also covers the procurement of equipment.

The facility has a ceiling of Rp240 trillion, with financing capped at Rp3 billion for each cooperative location.

The Finance Ministry regulation sets an annual interest rate of 6 percent and a repayment period of 72 months. It also grants a six-month grace period and allows an extension of up to 12 months under specified conditions.

Before requesting payment, Himbara must obtain documents showing that Agrinas has handed completed facilities to the Cooperatives Ministry.

The documents must undergo a review by the Development Finance Comptroller (BPKP) and the relevant government internal supervisory body.

Then-finance minister Purbaya Yudhi Sadewa said on September 3 that the government had allocated Rp40 trillion to meet its 2026 repayment obligations.

“For KDKMP, we have set aside Rp40 trillion. The money has been ready since the beginning of the year to pay the installments and interest,” Purbaya said in a Finance Ministry statement.

“The payment falls due this September, and I assure you the funds are ready so the banking system will not be disrupted.”

The repayment mechanism uses state-budget transfers, including the Village Fund, General Allocation Fund and Revenue Sharing Fund.

The arrangement means budget availability does not automatically authorize disbursement. Instead, the banks must first document the completed work and submit an eligible claim.

The Financial Services Authority (OJK) reported that initial banking support for the KDKMP program had reached about Rp149 trillion by December 2025. Moreover, this amount covers a government target of approximately 80,000 cooperatives nationwide.

The detailed amount reported in OJK data was Rp148.6 trillion. Readers should not confuse that program-level figure with the first installment due under Agrinas’ syndicated credit facility.

The government’s next step is therefore procedural. Himbara must submit its verified claim before the Finance Ministry can figure out the final amount payable and release the first installment.