LPEI Gives Export Work Capital Loans Of IDR 300 Billion To Bio Farma

Photo: Doc. Antara

JAKARTA - The Indonesian Export Financing Agency (LPEI) has provided export working capital credit facilities worth IDR 300 billion to PT Bio Farma (Persero) through the Pharmaceutical and Medical Devices Industry Special Export Assignment (PKE) program.

LPEI Business Managing Director Anton Herdianto said the provision of credit facilities to Bio Farma emphasized LPEI's commitment to encourage the Indonesian pharmaceutical industry to compete in the global market

"With the signing of this credit agreement, LPEI and PT Bio Farma (Persero) created stronger synergies in the development of the pharmaceutical industry in Indonesia, as well as increasing the competitiveness of Indonesian pharmaceutical products in the global market," Anton said in Jakarta, quoted from Antara, Wednesday, December 11.

It is known, data from the Ministry of Industry noted that the export value of Indonesia's pharmaceutical and natural material industry from January to September 2024 reached US$639.42 million or Rp9.9 trillion.

The signing of the Credit Agreement was carried out by the Head of Business Division III of LPEI, Nurrohmanudin with the Director of Finance and Risk Management of PT Bio Farma (Persero) IGN Suharta Wijaya and witnessed by the Director of Business Implementation Anton Herdianto, Plt. Managing Director of Business Development Maqin U. Norhadi, and President Director of Bio Farma Shadiq Akasya.

Anton explained that the LPEI Credit Agreement with Bio Farma is a tangible manifestation of the increase in the independence of the Indonesian pharmaceutical industry through PKE Pharmacy and Medical Devices Industry.

The Company has an important role in supporting vaccination programs and expanding international market penetration, which is proof of the quality and global trust in its vaccine products.

The PKE program is a form of the state being present to encourage national exports and is a form of Indonesia's economic diplomacy to foreign countries in a measured manner, aiming to increase the competitiveness of local industries so that they can compete with other countries so that Indonesian exports can increase. LPEI's synergy with Bio Farma as one of the largest SOEs in pharmaceuticals, is the first step to support the independence of the Indonesian pharmaceutical industry," explained Anton.

On the same occasion, President Director of Bio Farma, Shadiq Akasya, said that Bio Farma, as the largest vaccine producer in Indonesia, is committed to producing high-quality vaccines and contributing to national health security and supporting the national immunization program.

Bio Farma is currently a global player by occupying the 9th position based on the WHO Global Vaccine Market Report 2023. The company has currently distributed vaccines to more than 160 countries in the world. As the 5th largest vaccine supplier through the World Health Organization (WHO).

Bio Farma has a production capacity of 3.1 billion doses per year, with about 52 percent of our total exported production. This shows that Bio Farma is not only focused on the domestic market, but is also committed to meeting international demand," said Shadiq.

The total PKE funds of IDR 8.7 trillion have been distributed by LPEI for eight ongoing PKE programs, namely PKE Aeronautics, PKE Kawasan, PKE Pariwisata Mandalika, PKE Trade Finance, PKE UKM, PKE Transportation Equipment, PKE Super Priority Tourism Destinations and PKE Pharmacy Industry and Medical Devices.

The accumulation of PKE's disbursement since the issuance of the Minister of Finance's Decree (KMK) until November 30, 2024 is IDR 19.9 trillion with the number of business actors taking advantage of 231 business actors. Then the total new disbursement in 2024 as of November 30, 2024 reached IDR 6.6 trillion or 121 percent of the target of IDR 5.5 trillion.