JAKARTA - The Indonesian Export Financing Agency (LPEI) together with PT Asuransi Asei Indonesia (ASEI) strengthens the export ecosystem through the development of a Special Assignment Credit Insurance for Small and Medium Enterprise Exports (PKE UKM).
LPEI Business Development Managing Director Maqin U. Norhadi said the two Export Credit Agency (ECA) Indonesias are committed to providing complete solutions that are not only in terms of financing through the PKE UKM program but also credit insurance for the financing in question.
"This effort is designed to help small and medium enterprises to overcome challenges in increasing exports and competitiveness in the global market," said Maqin in his statement in Jakarta, quoted from Antara, Monday, July 1.
LPEI's synergy with ASEI this time aims to provide credit insurance protection for export-oriented SMEs in dealing with the risk of default by covering up to 70 percent coverage.
Maqin hopes that with the collaboration between LPEI and ASEI, it can have a positive impact on SMEs and increase SME confidence in developing products and provide better protection for Indonesian SMEs so that they can encourage national export growth and strengthen Indonesia's position in the global market.
ASEI President Director Achmad Sudiyar Dalimunthe said the collaboration between Asuransi Asei and LPEI shows the commitment of the two institutions in supporting the improvement of the national export ecosystem.
"The support provided by these two institutions is expected to accelerate the rate of SME exports, which in turn will increase the contribution of SMEs to the national economy," said Achmad.
Sebagai Export Credit Agency (ECA) Indonesia, Asuransi Asei juga telah menjalin hubungan sama yang baik dengan LPEI yang sama-sama bergabung dalam Asosiasi Internasional Berne Union.
He hopes that this collaboration can bring continued business sustainability to both parties.
This collaboration is a continuation of the previous collaboration that has been successful in providing co-insurance marine cargo facilities. This collaboration is also a tangible form of synergy between institutions under the Ministry of Finance of the Republic of Indonesia and the Ministry of SOEs of the Republic of Indonesia in increasing the competitiveness of Indonesian export products and ecosystems," he explained.
The LPEI PKE UKM Program is an assignment from the government through the Decree of the Minister of Finance (KMK) No.409/KMK.08/2021 which aims to support the export-oriented SME sector.
This program is clear evidence of the government's presence in encouraging SME players to be more courageous worldwide. As of June 27, 2024, it was noted that LPEI had disbursed SME PKE facilities up to Rp1,052 billion for export share to more than 65 countries.
LPEI's support for export SME players does not only stop at the PKE UKM Program, but export SMEs can take advantage of other PKE programs according to existing export profiles, including PKE Kawasan and PKE Trade Finance.
In addition to this support, LPEI is also preparing a marketplace called Komodoin which is specially designed as an export education facility, information services, incubation, capacity building, and a place to meet sellers and buyers (business matching).
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The complete ease and availability of services in the marketplace is expected to encourage export-oriented business actors to dare to go global.
Data from the Ministry of Cooperatives and SMEs of the Republic of Indonesia shows that the contribution of exports of Indonesian micro, small and medium enterprises (MSMEs) currently reaches 15 percent and is expected to reach 17 percent by 2024.
To support the government's target, LPEI is to drive an export ecosystem that is able to support dared SME players worldwide, including collaborating with representatives of the Government in the trade sector, namely the Trade Attache and the Indonesian Trade Promotion Center (ITPC) on five continents.
LPEI is currently also preparing a marketplace called Komodoin which is specially designed as an export education facility, information services, incubation, capacity building, and a place to meet sellers and buyers. The complete ease and availability of services in the marketplace is expected to encourage export-oriented business actors to dare to go global," explained Maqin.
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