Mandiri Displaces IDR 185.2 Trillion For Manufacturing And Downstreaming Industries

Bank Mandiri (Photo: Antara)

JAKARTA - PT Bank Mandiri Tbk (BMRI) reports that it has disbursed loans of Rp. 185.2 trillion to the processing industry, including the downstream mineral and coal. This number grew by 14.3 percent compared to the previous period.

This is in line with the appeal of the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia which requires non-bank banking institutions and financial institutions to finance downstream programs.

"Of course Bank Mandiri continues to support the government's strategic program. We can convey that the distribution of credit to processing industries including downstream mineral and coal until the end of the year to this sector has reached Rp. 185.2 trillion," said Bank Mandiri President Director, Darmawan Junaidi, Wednesday, February 5.

In detail, Darmawan explained, this credit was used to finance the operational construction of mineral smelters and refinery such as nickel, gold, copper and other metals.

Despite disbursing large costs for downstreaming, he ensured that his party would continue to prioritize robust risk management for this downstream financing.

"Because we also ensure that the financed projects have been operating commercially and with clear work contracts. And we also specifically design risk mitigation embedded against the project," he explained.

For the mineral downstream sector, he said, Bank Mandiri always ensures the adequacy of raw materials and the availability of offtakers after the company begins to produce.

"In the future, we will continue to support the acceleration and improvement of this strategic program of the downstream government which will continue to have a significant impact on the national economy," said Darmawan.