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Jakarta Post

Mandiri rolls out Rp 165t for infrastructure

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    The Jakarta Post

Jakarta   /   Mon, October 8, 2018   /   09:20 am
Mandiri rolls out Rp 165t for infrastructure A teller at state-owned lender Bank Mandiri serves a customer at a branch in Central Jakarta. (JP/Dhoni Setiawan)

State-owned lender PT Bank Mandiri has given out Rp 165 trillion (US$10.9 million) this year for infrastructure projects within Indonesia for the construction of, among other things, highways, train tracks and buildings.

Mandiri risk management director Ahmad Siddik Badruddin said that the figure equaled around 15 percent of its total loans this year.

“State-owned companies play a very important role in national development,” said Siddik during the Indonesia Business and Development (IBD) Expo in Surabaya, East Java, on Saturday as reported by Antara news agency.

He said that Mandiri had also doled out another Rp 160 trillion for the agriculture sector — one of the largest contributors to GDP — to fund everything from transmigrant farmers to industrial agriculture production.

Siddik cited his recent conversation with State-Owned Enterprises (SOEs) Minister Rini Soemarno, who said that the SOEs were one of two government arms that supported national infrastructure aside from the annual state budget.

He added that the lender participated in the IBD Expo to attract and inspire millennials as a new generation of employees.

“Around 60 to 70 percent of our current employees are millennials,” said Siddik. (nor/bbn)