OJK Strengthens Commitment To Expand Access To Financing And Capital For MSMEs

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - The Financial Services Authority (OJK) continues to encourage the micro, small and medium business sector to rise in line with the government's steps to restore the economy.

Member of the OJK Board of Commissioners, Friderica Widyasari Dewi, said that MSMEs are a very strategic sector and the main pillar of the economy.

According to him, this business that directly touches the community makes a significant contribution to the Indonesian economy, both in the formation of gross domestic product.

"The MSME sector clearly absorbs a lot of manpower and supports financial system stability and the economy," he said in a written statement on Sunday, August 14.

Friderica added, considering the importance of MSMEs in the economy, strengthening their capacity is certainly a must. For this reason, he considered it necessary to regenerate the entrepreneurial spirit, create new business opportunities, and create job opportunities.

"OJK is committed to opening access to financing and capital for MSMEs, one of which is issuing regulations on securities crowdfunding or crowdfunding services," he asserted.

Furthermore, the authorities are known to have initiated a financing scheme for the small and micro segment with a fast and low-cost process through the Regional Financial Access Acceleration Team (TPAKD).

Meanwhile, this program has a focus on three things. First, a credit/financing program against moneylenders which is expected to be one of the answers to easy and affordable financing.

Second, the generic model of credit/financing schemes for priority agricultural sectors becomes a reference for TPAKD whose areas have superior potential in the agricultural sector in formulating ecosystem-based value chain financing programs.

Third, is the acceleration of completion of the generic model of the tourism scheme which aims to support the business sector in the tourism sector.

“Equitable development through the creation of new economic activity centers and strengthening MSMEs in various regions must be carried out jointly by all stakeholders. Synergy and collaboration with all stakeholders must be carried out because efforts to improve the financial understanding of MSMEs are long-term national projects," he said.

"OJK is ready to always cooperate and synergize with all parties to be able to encourage and ensure the availability of easy, fast, and safe financial access for all levels of society, especially for MSMEs," closed Friderica.