Jakarta, ThedailyID — Koperasi Desa/Kelurahan Merah Putih has accumulated Rp37 trillion in debt to Indonesia’s state-owned banks.
The debt sits with PT Agrinas Pangan Nusantara, which borrowed funds from state-owned banks to finance the construction of the cooperatives.
The government will repay the loans to the state-owned banks. The first Rp37 trillion bill came due on Friday, September 25.
The total debt associated with Kopdes Merah Putih is estimated at around Rp240 trillion. The Rp37 trillion payment represents the first bill to reach maturity.
Finance Minister Suahasil Nazara said the government has already prepared funds to settle the obligation.
“The payment for the debt used to build Koperasi Desa/Kelurahan Merah Putih has been budgeted in the state budget. So, the funds are available,” Suahasil said during a press conference at Bank Indonesia’s office in Central Jakarta on Thursday, September 24.
According to Suahasil, the 2026 state budget has enough flexibility to accommodate government obligations. However, the Kopdes Merah Putih allocation was already included when the government prepared the 2026 budget.
The government must still complete a verification and validation process before disbursing the funds. Officials need to verify the physical condition of cooperative buildings constructed across various locations.
Suahasil said the Ministry of Cooperatives and PT Agrinas have been working on the construction and verification process.
The repayment process is also being monitored by the Financial System Stability Committee (KSSK). The committee includes the Ministry of Finance, Bank Indonesia, the Financial Services Authority (OJK), and the Indonesia Deposit Insurance Corporation (LPS).
Danantara Indonesia is also involved as the shareholder of the state-owned banks that provided the financing.
Suahasil said Danantara’s involvement makes the monitoring structure more comprehensive because it brings the state-owned enterprise sector into the financial stability framework.
The government therefore has two key processes to complete. First, officials must verify the completed cooperative facilities. Then, the government can proceed with payments to the state-owned banks.
The Rp37 trillion obligation is part of the larger financing structure for the Kopdes Merah Putih development program. The total outstanding debt associated with the program is estimated at Rp240 trillion.
