BANDUNG – bank bjb and Indonesian Export Financing Agency agreed on a cooperation for corporation credit guarantee to encourage an increase in national exports while at the same time encouraging government efforts by implementing the maximum financing intermediation function for the acceleration of National Economic Recovery (PEN) in the midst of COVID-19 pandemic.
Head of Corporate Secretary Division bank bjb Widi Hartoto said that the cooperation through this guarantee mechanism will have a positive impact by providing a sense of security and confidence to bank bjb, so that the company can focus more on efforts to channel corporate credit to encourage business actors in hastening their economic activities optimally.
“bank bjb will uphold the government's trust to carry out the banking intermediation function as well as possible and be oriented towards maintaining financing quality so as to generate optimal economic benefits. With this cooperation, the company is increasingly optimistic about being able to distribute financing according to its predetermined target," said Widi.
This corporate credit guarantee cooperation is carried out according to the mandate of Minister of Finance Regulation No.98/PMK.08/2020 dated July 28, 2020 on Government Guarantee Procedures for Corporate Business Actors through the Designated Business Guarantee Entity in the Context of Implementing National Economic Recovery Program.
This regulation provides guarantees through a designated guarantee business entity, in this case LPEI, as a guarantor for fulfilling the financial obligations of business actors in real and financial sectors and/or labor-intensive sectors where their business activities are affected by COVID-19.
This corporate credit guarantee applies to existing customers who are included in the non-SOEs and non-MSMEs business category who require additional or new working capital facilities with a ceiling value of Rp.10 billion-Rp.1 trillion in the form of cash and non-cash loans.
In accordance with the provisions, debtors can gain benefits from the use of facilities for the procurement of raw materials and/or supporting materials, purchase of raw materials from abroad, replacement and/or maintenance of components and production facilities and/or to overcome the impact of COVID-19, with 60% guarantee coverage from credit limit, and 80% for the sectors determined by Minister of Finance regulations.
Bank bjb guarantee scheme by LPEI as regulated in Minister of Finance aims to protect, maintain and improve economic capacity of corporate business actors in running their business.
bank bjb will certainly maximize the potential for financing while prioritizing the principle of prudence by collaborating and synergize with LPEI. These two institutions have the same goal; to play an active role in restoring national economy which had experienced shocks due to COVID-l9 pandemic.
"Through the signing of cooperation in government guarantee for corporate business actors between LPEI and bank bjb, it is expectd that it can become one of the drivers of National Economic Recovery in general and specially for corporate business actors who have become bank bjb partners,” Widi concluded.
DIVISI CORPORATE SECRETARY