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Jakarta Post

BRI restructures 2.8m loans to MSMEs to cushion virus impact

  • Mardika Parama


Jakarta   /   Thu, August 6 2020   /  01:00 am
Pushing MSMEs forward: PT Bank Rakyat Indonesia (Persero) Tbk (BRI) president director Sunarso gives a presentation on BRI’s latest innovations to boost local micro, small and medium enterprises, through financial stimulus and digital business transformation. (Photo courtesy of BRI/.)

State-owned Bank Rakyat Indonesia (BRI) has restructured 2.88 million loans to micro, small and medium enterprises (MSME) worth Rp 179.17 trillion (US$12.35 billion), a bank executive has said. BRI president director Sunarso said on July 29 that the company had also granted Rp 24 trillion in loans to MSMEs that had been greatly affected by the COVID-19 pandemic. The loans were disbursed to 565,000 MSMEs and sourced from the government’s national economic recovery (PEN) fund. The government placed a total of Rp 30 trillion into the Association of State-Owned Banks (Himbara) on June 24, of which BRI received Rp 10 trillion. “Our goal is to leverage Rp 30 trillion in loans over three months to boost the economic strength of MSMEs and keep our economic engine running,” Sunarso said in a statement. Small and medium enterprises, which provide more than half o...