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President Joko Widodo (Jokowi). ANTARA/Desca Lidya Natalia/am

President Joko Widodo (Jokowi) urged the Revolving Fund Management Institution for Micro, Small, and Medium Enterprises (LPDB-KUMKM) to immediately disburse Rp1 trillion funding under the National Economic Recovery (PEN) program to cooperative units.

"I am glad to hear that the institution has readied Rp1 trillion. This should soon be disbursed to cooperative units, so they can distribute it to members of the cooperative units," Jokowi remarked in Jakarta on Thursday.

The head of state noted that the government had to work quickly to facilitate the recovery of businesses run by cooperative units as well as micro-, small-, and medium-scale enterprises that have become the backbone for most business operators in the country.

"We only have July, August, and September to rebound. If we can succeed in it, Insya Allah (God willing), the economy in the fourth quarter (of 2020) will show signs of improvement, and next year, it will become easier. We have the opportunity in July, August, and September," he elaborated.

Jokowi stressed on the need to increase state budget spending during the three-month period.

"Our opportunity lies here, and with the support of working capital, we can improve the liquidity of cooperative units," he affirmed.

Furthermore, Jokowi highlighted the importance of simplifying the process to disburse the revolving fund.

"I am upbeat that we can make the process fast and simple. We need quick disbursement and simplification of the process," he noted.

"Do not wait any longer. Help them immediately. Use additional working capital to drive the economy, especially in regions," Jokowi added.  (ANTARA)