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Achieving target, BRI disburses Rp 30 trillion worth of PEN funds
The COVID-19 pandemic that hit Indonesia in early March has significantly affected almost every business sector, leaving the country’s economy in trouble.
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T
he COVID-19 pandemic that hit Indonesia in early March has significantly affected almost every business sector, leaving the country’s economy in trouble. In this unfavorable situation, Indonesia needs to speed up its economic recovery. This means fast disbursement of loans to businesses, particularly micro, small and medium enterprises (MSME), as these are on the front line of the national economic recovery and should therefore be a matter of priority.
Thanks largely to its commitment on digital transformation and culture and its great attention to MSMEs, state-owned lender Bank Rakyat Indonesia (BRI) has achieved its funds disbursement target set by the government under the National Economic Recovery (PEN) plan.
Digitalization is instrumental to accelerating the loan disbursement process, and its BRISPOT app enables BRI to process an average of Rp 939 billion worth of loans per day, according to BRI president director Sunarso.
“Digitalization has proved to be able to improve BRI’s performance in its bid to salvage and reinvigorate MSMEs in this challenging situation,” he said.
As of Aug. 10, the Company has distributed credit sourced from the placement of Rp 30.6 trillion worth of PEN funds to 700,000 MSME players.
Previously, on June 25, BRI had received a placement of Rp 10 trillion in funds from the government, with the expectation that BRI could leverage the funds threefold into MSME loans within three months.
Surnarso unveiled that the majority loan recipients were micro business players. “Of the disbursed loans, 70 percent or about Rp 21.6 trillion was distributed to the micro segment,” he said.
Meanwhile, with regard to the economic sectors the recipients are engaged in, trade accounted for 50 percent, agriculture for 22 percent and processing industries for 9.5 percent.
According to Sunarso, the digital ecosystem, especially with regard to the micro credit program Kredit Usaha Rakyat (KUR), has also contributed to the acceleration of PEN funds disbursement.
“We have cooperated with e-commerce start-ups and ride-hailing companies like Gojek, Grab, and e-commerce platforms, such as Tokopedia, Shopee and Bukalapak on disbursing the KUR Digital loans. This breakthrough has widened our coverage and eased the MSME players’ access to capital, and this is tangible evidence that BRI has showcased in a bid to implement #BUMNBangkitkanUMKM initiatives,” he concluded.
