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View all search resultsMinistry's planned PNM takeover may happen this year, Purbaya says
The takeover plan aims to place the state-owned microfinance firm under the Finance Ministry for channeling the government's KUR microcredit facility.
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Finance Minister Purbaya Yudhi Sadewa appears at an interview with Reuters in Jakarta on March 3, 2026. (Reuters/Willy Kurniawan)
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plan for the government to take over microfinance firm PT Permodalan Nasional Madani (PNM) from its parent company, state-owned lender PT Bank Rakyat Indonesia (BRI), may be realized this year, Finance Minister Purbaya Yudhi Sadewa has signaled.
Purbaya emphasized the proposal was approved by Rosan Roeslani, CEO of state asset fund Danantara, which is tasked with managing and consolidating state-owned enterprises (SOEs).
“This is still under discussion. The top [management] has approved it, but that doesn’t necessarily mean it is being carried out at the lower [level]. Well, that’s bureaucracy,” the minister said on Wednesday, as quoted by Kontan.co.id.
Purbaya explained the reasoning behind the move was the government’s planned scheme to disburse the People’s Business Credit (KUR), a microloan interest subsidy program for MSMEs, through an institution under the Finance Ministry. If the takeover went through, he added, the firm would manage an annual budget of around Rp 40 trillion (US$2.36 billion) for loan interest subsidies.
He added that if the funding for the KUR were managed as a revolving fund under a single institution, it could potentially reach Rp 200 trillion within five years, and the entity managing it could develop into a strong financial institution akin to “a big bank”.
Such an outcome would also give the government more room to oversee the disbursement of microloans, Purbaya said.
Read also: OJK projects MSME loans to expand 9% this year
