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Rp 4.41 trillion in loans disbursed to maritime and fisheries sector
A program overseen by the Financial Services Authority (OJK) involving eight banks has disbursed Rp 4
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A program overseen by the Financial Services Authority (OJK) involving eight banks has disbursed Rp 4.41 trillion (US$ 324.50 million) in loans to the maritime and fisheries sector up to September.
The amount is 82 percent of a targeted Rp 5.37 trillion. Three of the banks -- Bank Rakyat Indonesia (BRI), Bank Tabungan Pensiunan Nasional and Bank Sulselbar ' disbursed more than their initial commitments.
By December, the OJK projects that total loan growth for the maritime and fisheries sector will reach Rp 7.2 trillion.
OJK banking supervision director Slamet Edy Purnomo expressed satisfaction with the commitments of the banks. 'It's above Rp 4 trillion. That's great. I am confident that we can achieve our target by the end of this year,' said Slamet at a press conference on Tuesday.
Initiated by the OJK and the Maritime Affairs and Fisheries Ministry in May 2015, the program, called Reach, Synergize and Guide (Jaring), is aimed at assisting in the development of the maritime and fisheries sector by providing stakeholders with information on maritime and fisheries data, financing, business risk mapping and regulations.
Jaring, which initially involved eight lenders, recently announced that an additional five bank had joined the program, namely Bank Central Asia, Bank Maybank Indonesia, Bank CIMB Niaga, Bank Sinarmas and Bank Pembangunan Daerah in East Java.
According to deputy OJK commissioner for banking supervision Mulya E. Siregar, the involvement of the additional five banks was in line with Jaring's 2016 mid-term target, particularly in expanding financial access to all maritime players, including sea transportation, infrastructure and services and the maritime industry.
'Broadening financing access for the maritime industry and fishing communities is our focus. We expect growth to increase 50 percent every year. It's not that much compared to the potential we have in our waters,' Slamet told thejakartapost.com.
