SMF and PIP Open Financing Opportunities at Red and White Cooperatives

SURAKARTA - Special Mission Vehicles (SMV) under the Ministry of Finance such as PT Sarana Multi Griya Finansial (SMF) and the Government Investment Center (PIP) open opportunities to participate in the Red and White Village/Neighborhood Cooperative (KDKMP) program.

SMF President Director Ananta Wiyogo, said that until now his party has been operating in the secondary housing financing sector by partnering with financial institutions under the supervision of the Financial Services Authority (OJK).

According to him, as long as KDKMP is also under the supervision of OJK, SMF is ready to cooperate.

"As long as the financing is supervised by OJK, we are ready to cooperate because SMF is also supervised by OJK," said Ananta, during a media briefing in Surakarta, quoted on Friday, February 13.

He emphasized that SMF remained committed to carrying out business activities in accordance with the applicable provisions and corridors.

In line with this, the President Director of PIP, Ismed Saputra, stated that his party also opened the opportunity for the distribution of financing through KDKMP.

However, he emphasized that the role of PIP is different because it targets the end user directly, rather than providing working capital to cooperatives.

"It could be. So in fact, the point is, those who work with PIP are because PIP is the end user, not the working capital of the cooperative," he said.

Ismed explained that the function of PIP is not the same as the Rotating Fund Management Institution (LPDB), which channels working capital financing directly to cooperatives.

According to him, PIP actually channels financing to debtors, namely cooperative members, including for business needs such as savings.

"If PIP is to the debtor, the members of the cooperative. Is it in the form of capital for saving and borrowing," he said.

Furthermore, he said that as long as the KDKMP business activities meet the criteria in line with the PIP focus, namely related to MSMEs, the opportunity for cooperation is open.

Ismed added that if the activity is in the form of selling household needs such as 3 kg gas or financing working capital for cooperatives, then it is not included in the scope of PIP financing.

"As long as the business is related to MSMEs, but if the business is selling 3 kg gas, working capital, it is not with PIP, that's it," he explained.