Jokowi Asks OJK To Give Concrete Evidence Of Supporting The Government Downstream Program

JAKARTA - President Joko Widodo (Jokowi) asked the Financial Services Authority (OJK) to provide concrete evidence in supporting the government's downstream program.

In his remarks, Jokowi said he heard a lot of complaints from smelter entrepreneurs who had difficulty getting funding from banks

"Earlier, the OJK chairman said that downstreaming would be given support. I really ask for concrete things because I still hear that it is still difficult to make smelters for funding," Jokowi said in his remarks at the 2023 Financial Services Industry Annual Meeting at the Shangri-La Hotel, Jakarta, February 6.

Previously, Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar in his speech said that the OJK would fully support government strategic policies, one of which was strengthening a series of policies to support the downstream program of Natural Resources (SDA) in increasing added value.

In fact, Jokowi continued, through downstream Indonesia, it could reap profits of up to 30 billion US dollars from the previous US$1.1 billion.

Jokowi asked for the support of OJK and other senior institutions to provide support to downstreaming through careful funding.

He added that downstreaming is the key to Indonesia becoming a developed country. Jokowi explained, before 2018 Indonesia was still a lower middle income country.

Then, in 2018 back to the upper middle income.

"Because the pandemic has dropped again, it has become a lower middle income, but in 2022 we will rise again to the upper middle income. This must continue to be consistent, we encourage our GDP to continue to rise," he said.

It is known, Indonesia managed to earn IDR 360 trillion per year from the ban on nickel exports that had been implemented since 3 years ago.

Jokowi explained that before nickel exports had not been banned, Indonesia only earned IDR 17 trillion per year.