OJK Optimistic Of Fintech Lending Funding Distribution To The Productive Sector Reaches 40 Percent

Financial Services Authority (OJK) (ANTARA)

JAKARTA - The Financial Services Authority (OJK) is optimistic that the distribution of funding to the productive sector and Micro, Small and Medium Enterprises (MSMEs) by 2024 can reach a 40 percent portion of the outstanding funding.

Chief Executive of the Supervision of Financing Institutions, Ventura Capital Companies, Micro Financial Institutions and Other Financial Services Institutions OJK Agusman said the target was in accordance with the Roadmap for Strengthening and Development of LPBBTI. The value of funding to the productive sector has not yet reached 40 percent.

"Based on outstanding funding data, as of January 2024, the outstanding amount of funding for MSMEs is at the level of 33.65 percent or Rp20.33 trillion of the total outstanding funding of Rp60.42 trillion," he said in a written response sheet, quoted on Sunday, March 10, 2024.

Agusman is optimistic that the distribution of P2P lending fintech industry loans in 2024 will continue to increase and can achieve the predetermined target.

However, Agusman does not deny that the growth of P2P lending fintech loans tends to slow down when compared to the growth in previous years.