Maybank Indonesia Disburses IDR 17.2 Trillion For Sustainable Financing

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - PT Bank Maybank Indonesia allocates IDR 17.2 trillion to support sustainable financing. This includes MSMEs and the transition to clean energy.

"That's our commitment until 2025," said Maybank Indonesia Risk Management Director Effendi quoting Antara.

He explained that the allocation of financing was part of the mobilization of the banking corporate group of 80 billion Malaysian ringgit.

His party started the program since 2022 and is targeted to have distributed Rp3.3 trillion by the end of 2023.

He detailed that from Rp3.3 trillion, around Rp1.2 trillion was absorbed by micro and small businesses in collaboration with PT Permodalan Nasional Madani (PMN) Mekaar or Fostering a Prosperous Family Economy.

Other financing, he said, was also channeled to environmentally friendly or tang green-based projects, slowly reducing the dependence of fossil energy.

"We are participating in green financing. PLN has converted a lot of fossil energy, namely from coal to new and renewable energy or greener," he said.

The types of financing disbursed, he said, also include environmental, social and government or EVG financing.

To boost continued financing commitments until 2025, his party will aggressively allocate funding.

The reason is, based on current market analysis, people's behavior is increasingly aware of sustainable programs.

The national private bank also not only disburses financing but also invites customers to participate in making efforts to use environmentally friendly energy, including carrying out energy efficiency.

"We make sure that the financing does not stop instantly but how to invite customers to participate in the energy transition," he said.

At the internal corporate level, he added, he had made transitional efforts, such as utilizing electric vehicles, utilizing smart room temperature controllers to utilizing solar panels as an energy source.

Specifically for energy, the Maybank Group has reduced 41 percent of emissions by the end of 2022 as a form of carbon neutrality support and zero carbon emissions by 2060 or sooner.