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PT Jaminan Kredit Indonesia (Jamkrindo), a pioneer in credit guarantees in Indonesia, is actively and continuously supporting Micro, Small, and Medium Enterprises (SMEs) to enhance their business competitiveness. Through guarantee programs and mentorship from Jamkrindo, national SMEs can expand into international markets.
Putrama Wahju Setyawan, President Director of PT Jamkrindo, mentioned that Jamkrindo has undertaken various efforts to push SMEs into the global market. These efforts include bringing supported partners to showcase at national and international exhibitions, including in countries like Malaysia, South Korea, and others.
Putrama added that Jamkrindo’s efforts to help SMEs go international are closely related to several developments made by the company, particularly in the provision of guarantees. By leveraging digital technology, Jamkrindo offers innovative and competitive services that improve financial accessibility for SMEs. This is in line with Jamkrindo’s mission to help SMEs scale up to become larger and more competitive.
“As the pioneer in credit guarantees in Indonesia, Jamkrindo offers various guarantee products and digital services that can help SMEs access financing sources. In addition, we provide ongoing mentorship to SMEs in adapting digital processes in their businesses for broader and more effective market access. We believe digitalization is the key to accelerating SME growth in Indonesia to help them scale up,” said Putrama.
As known, based on data from the Central Statistics Agency (BPS), Indonesia’s export value in July 2022 reached USD 25.57 billion. However, the contribution of SMEs to these exports is still considered low. The Ministry of Cooperatives and SMEs reported that SMEs contribute only about 15% to the total national exports, far behind the contributions from SMEs in China and India. The government is targeting an increase in national SME exports to around 17% by 2024.
Through innovations and collaborations with financing partners, Jamkrindo aims to provide guarantees with increasingly easy access. Putrama exemplified a collaboration with PT Bank Negara Indonesia (Persero) Tbk to provide financing and credit guarantees to farmers in Bogor for the export of plants to the Netherlands. Over 1,000 tree farmers supported by PT Minaqu Indonesia received credit facilities and credit guarantees through the People's Business Credit (KUR) scheme, enabling them to export plants to the Netherlands.
In addition to promoting SME exports, Jamkrindo also encourages the optimization of the Domestic Content Level (TKDN) in the procurement of goods and services. This aligns with the Increasing the Use of Domestic Products (P3DN) program, which aims to improve the competitiveness and productivity of the national industry.
In its procurement activities, the company always prioritizes domestic components. This is a form of support for the National Movement for Proudly Made in Indonesia, initiated by the government. “With the increasing use of local products, it is expected that national utilization will improve, which will ultimately enhance industrial efficiency and enable it to compete in the global market,” he said.
As of the first semester of 2022, Putrama revealed that PT Jamkrindo had realized a TKDN of 63.73%. Furthermore, PT Jamkrindo is also working to increase the income of SMEs by involving them in the company’s supply chain for procurement.
In line with the government's vision to increase the role of SMEs in the national economy, Jamkrindo also actively participates in procurement transactions on the Digital Market (PaDi) UMKM platform. PaDi UMKM is a platform initiated by the Ministry of State-Owned Enterprises (BUMN) in collaboration with state-owned enterprises to monitor their contributions to SMEs across Indonesia. The platform facilitates SMEs to market their products/services and supports procurement between state-owned enterprises and SMEs. “Using the PaDi UMKM platform is one of our commitments to supporting the advancement of the SME digital ecosystem,” said Putrama.
About Jamkrindo
As a credit guarantee company that is part of the Indonesia Financial Group (IFG) holding, Jamkrindo offers various products, including both program and non-program guarantees. For program guarantees, Jamkrindo provides KUR guarantees and KMK guarantees as part of the PEN program. For non-program guarantees, Jamkrindo offers general credit guarantees, micro-credit guarantees, construction and procurement guarantees, and distribution guarantees. Additionally, Jamkrindo also provides surety bonds, customs bonds, supply chain financing guarantees (invoice financing), and other types of credit guarantees.
Abdul Bari
Corporate Secretary
PT Jamkrindo