Bank Indonesia And The Ministry Of ATR Establish Cooperation To Support MSME Development

Bank Indonesia dan Kementerian ATR bekerja sama dalam pengembangan UMKM. (Foto Dok BI)

JAKARTA - Bank Indonesia (BI) together with the Ministry of Agrarian Affairs and Spatial Planning (ATR) or the National Land Agency (BPN) are collaborating in the development of business, Micro, Small and Medium Enterprises (MSMEs) as derivatives of the Memorandum of Understanding (NK).

Deputy Governor Juda Agung conveyed the purpose of this collaboration to synergize the duties, functions, and authorities of the two parties in MSME development activities to encourage competitive MSMEs to achieve an inclusive acceleration of economic growth.

In addition, Juda emphasized three main things in the cooperation agreement, first is that MSMEs still face a big challenge, namely related to the quality and quantity of their main products for export products.

"Second, the importance of legality aspects to support MSMEs to advance to class, and third, the importance of innovation, especially environmentally friendly products and digitizing MSMEs," he explained in his official statement, Wednesday, December 6.

In line with that, Secretary General Suyus Widayana revealed that the Ministry of ATR/BPN is ready to facilitate MSMEs to obtain legality on land owned. This commitment is as mandated in Presidential Regulation Number 62 of 2023 concerning the Acceleration of the Implementation of Agrarian Reform.

The signing of this cooperation agreement is a commitment from the spirit of synergy between Bank Indonesia and the Ministry of ATR/BPN to advance MSMEs in line with the strategic role of MSMEs in the Indonesian economy.

The scope of cooperation agreements includes facilitation of increased competence or human resource skills in the field of land and MSMEs which include research, training, and provision of resource information.

Furthermore, facilitating increased access to financing to increase financial literacy, strengthen financial management capacity, and support MSMEs connected to financial institutions in an effort to obtain additional capital.

Then, facilitate the expansion of market access to expand the marketing reach of MSMEs, including through digital marketing facilities. As well as facilitation of MSME land registration for the first time, and data and/or information exchange.