Ministry Of Finance Launches ORI-017 Virtually On Facebook

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The Ministry of Finance launched the State Retail Bond investment instrument series ORI017 via Facebook for the first time due to the COVID-19 pandemic.

"The proceeds from the issuance of the ORI will be used to finance the state budget, including for prevention and recovery from the COVID-19 pandemic," said Director General of Financing and Risk Management (DJPPR) of the Ministry of Finance Luky Alfirman in Jakarta, Monday, June 15.

According to him, the current situation requires collective movements from the government, private sector and the public to support each other in facing the pressure caused by the corona virus outbreak.

By buying ORI017, he continued, it signifies the direct participation of the community in efforts to restore Indonesia's development and economy due to the impact of COVID-19.

Investing in ORI017, he said, is a safe and affordable investment because principal and interest payments are guaranteed by the state and can be ordered for a minimum of IDR 1 million and a maximum of IDR 3 billion.

After this launch, the public can order the 17th ORI series until July 9 2020 at 10.00 WIB.

The yield on this SBN is a fixed 6.4 percent per year which is claimed to be higher than the average deposit interest rate of 5.5 percent.

This SBN has maturity until July 15, 2023 but can be traded on the secondary market which can be done after two payment periods, namely in September 2020, only between domestic investors.

This SBN can be ordered online at 16 banks that are distribution partners, four securities companies, three special securities companies and two financial technology (fintech) companies.