The First Mall In Indonesia Sarinah Receives Rp50 Billion Credit From LPEI For Exporting MSME Products

JAKARTA - The Indonesian Export Financing Agency (LPEI) has disbursed a working capital credit facility of Rp50 billion to PT Sarinah (Persero). The commitment is aimed at increasing exports of national micro, small and medium enterprises (MSMEs) led by PT Sarinah as a product marketer.

LPEI's Managing Director I Dikdik Yustandi said that the disbursement of tens of billions of funds was realized thanks to the common vision between the two parties.

"We see that Sarinah has an opportunity to increase the capacity of export-oriented MSMEs," he said in an official statement, Wednesday, September 22.

According to Dikdik, LPEI is committed to consistently helping Indonesian MSMEs to speak more in the international arena.

"For this reason, LPEI agrees to support and make every effort to help MSMEs in foreign trade," he said.

On the same occasion, the President Director of PT Sarinah Fetty Kwartati said that the working capital financing from LPEI will be very helpful in carrying out the vision to support MSMEs to market their products globally.

“MSMEs will directly benefit from this financing facility. In addition, the cooperation of the two parties also indirectly contributes to the business transformation that we are doing," he said.

For information, LPEI as the Ministry of Finance's Special Mission Vehicle (SMV) led by Sri Mulyani has a special mandate to support export-oriented MSMEs.

It is planned that this financing provision will be used by PT Sarinah to support curated MSMEs so that they can meet the demands of buyers from abroad.

As curator, PT Sarinah carries out a duty free cooperation strategy with global companies so that later local Indonesian products can be sold on the international duty free network.

"This is in line with Sarinah's vision of transformation, namely Developing the Excellence of National MSMEs so that they can compete in the global market while building the Proudly Made in Indonesia movement," Fetty continued.

To note, Sarinah is the first shopping center (mall) in Indonesia which was built on the instructions of President Soekarno in the mid 60's. Sarinah status itself is a state-owned enterprise (BUMN) whose majority shares are controlled by the government.