President Prabowo Subianto Inaugurates 1,061 Village Cooperatives in Nganjuk

President Prabowo Subianto inaugurated 1,061 Red and White Village Cooperatives (KDKMP) in Nganjuk, East Java, as part of a national initiative to strengthen local economies and alleviate poverty.

Key points

• The KDKMP program, launched under Presidential Instruction Number 9 of 2025, aims to establish 30,000 cooperatives by August 2026.
• Each cooperative unit employs 17 local workers to support rural self-reliance and economic productivity.
• President Prabowo Subianto claimed Indonesia's sovereign wealth fund, Danantara, has reached $1,000 billion in assets.
• The President dismissed concerns regarding the weakening of the Indonesian Rupiah, stating that rural communities remain unaffected by currency fluctuations.

Why it matters

The initiative represents a major government effort to decentralize economic development and poverty reduction, while the President's statements on sovereign assets and currency stability aim to reassure the public amid global economic uncertainty.