BCA Owned By Conglomerate Hartono Brothers Provides Funding Of Rp3 Trillion To LPEI Eximbank

The signing of the funding agreement between BCA and Indonesia Eximbank. (Photo: Doc. Ministry of Finance)

JAKARTA - PT Bank Central Asia Tbk (BCA) provided funding support to the Indonesian Export Financing Agency (LPEI) or Indonesia Eximbank in the form of a time loan facility worth Rp3 trillion with a tenor of 2 years.

BCA President Director Jahja Setiaatmadja said this collaboration is a form of continuous synergy that has been established since 2016.

"This is a special opportunity for us to be able to continue to support productive activities for business actors in the country," he said in a press statement, Tuesday, June 22.

Jahja hopes that the steps taken by the company can contribute to efforts to recover the national economy so that it will have a wider impact nationally.

"Hopefully, the financing facilities provided can continue to support national export growth and accelerate the national economic recovery program," he said.

On the same occasion, LPEI Managing Director III Agus Windiarto said that this liquidity injection would be used to support LPEI's financing needs and business activities such as financing, guarantees, and insurance.

"The signing of this cooperation also proves that LPEI as a Special Mission Vehicle (SMV) under the Ministry of Finance continues to gain the full trust and support of domestic financial institutions to carry out its mandate to encourage national export performance," he said.

For information, the collaboration between BCA and LPEI is expected to help accelerate national export growth through the distribution of financing, guarantees, and insurance to export-oriented businesses.

It is believed that liquidity support from the bank owned by the Hartono Brothers conglomerate will provide space for LPEI to channel financing better to domestic entrepreneurs amidst the COVID-19 pandemic.

Meanwhile, the facility consists of a non-revolving 1-time loan of Rp1.5 trillion and a non-revolving 2-time loan of Rp500 billion with a 2-year tenor, and an additional 3 non-revolving time loan of Rp1 trillion with a 2-year tenor.

"This funding support is expected to strengthen LPEI's business strategy in carrying out the mandate of the law to accelerate exports," concluded Agus.