Encouraging The Real Sector, Sri Mulyani Withdrawing IDR 30 Trillion Funds To Give To Bank Himbara

JAKARTA - The government will place funds in four state-owned banks amounting to IDR 30 trillion in order to help national economic recovery. The four banks are PT Bank Mandiri Tbk (BMRI), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Negara Indonesia Tbk (BBNI), and PT Bank Tabungan Negara Tbk (BBTN).

This placement is in accordance with the regulations that have just been issued, namely the Minister of Finance Regulation (PMK) Number 70/2020 concerning the placement of state money in commercial banks in the context of accelerating national economic recovery.

Finance Minister Sri Mulyani explained that the funds came from government funds that had been placed at Bank Indonesia (BI). He admitted that he had written to BI Governor Perry Warjio to use government funds.

"For this first fund, Rp 30 trillion has been submitted or determined to be placed in the Himbara bank. Each of them will submit a plan to use these funds in the context of restoring the real sector," he said in a virtual press conference, Wednesday, June 24.

Sri Mulyani said that later the placement of government funds will be in the form of deposits. Meanwhile, the interest rate set is 80 percent of the BI benchmark interest rate, which is currently 4.25 percent.

Furthermore, Sri hopes that with such low interest rates, Bank Himbara will be able to boost the real sector through loans provided to entrepreneurs with even lower interest rates.

In addition, Sri Mulyani explained, there were two restrictions on the government regarding the use of these funds. First, these funds may not be used to purchase government securities. Second, these funds may not be used for transactions or purchases of foreign currency.

"So this fund specifically encourages the real sector economy. In this context we will enter into a cooperation agreement with the CEOs of Himbara bank to be represented by the Director General of Treasury. Earlier, the President asked the BUMN minister to monitor the use of these funds in order to encourage the real sector," he said. .