JAKARTA - PT Asuransi Kredit Indonesia (Askrindo) signed a cooperation agreement (PKS) for people's business credit insurance (KUR) with the Regional Development Bank (BPD) Papua to strengthen the business ecosystem in eastern Indonesia.
"Through this collaboration, Askrindo and Bank Papua are committed to expanding access to capital for micro, small and medium enterprises (MSMEs) in Papua, strengthening the competitiveness of the regional productive sector, and encouraging equal distribution of the national economy," said Business Director Askrindo Budhi Novianto, in a written statement in Jakarta, quoted by Antara, Wednesday, October 15.
Budhi stated that this collaboration is an implementation of the Regulation of the Coordinating Minister for Economic Affairs of the Republic of Indonesia Number 7 of 2025 and Permenko Number 13 of 2024 which affirms the government's commitment to strengthening the KUR ecosystem.
According to Budhi, local governments are now more active in data collection, legalization (business permits), as well as access to micro-financing in order to strengthen access to capital for MSME businesses in Papua.
Moreover, Papua has the potential to boost the creative economy, culture, and tourism sectors.
In line with this, Askrindo sees a credible protective urgency which also aims to boost the public financial inclusion index.
"With this collaboration, it is hoped that it can further strengthen Askrindo's role as an insurance company that contributes to financial literacy and inclusion and sustainable economic development throughout Indonesia, especially in eastern Indonesia," said Budhi.
Previously, Askrindo also renewed cooperation in construction and non-construction credit insurance with Bank Papua with an estimated coverage value of IDR 900 billion per year.
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This same target is among local business actors, regional contractors, as well as strategic development projects that have a direct impact on the community.
Papua is believed to be one of the areas with great economic growth potential in Indonesia, especially through the infrastructure sector, natural resources, marine, agriculture, and the development of MSMEs.
Therefore, Askrindo believes that the financing support supported by risk guarantees from the insurance sector is an important element in ensuring the continuity of development in this region.
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