Jakarta, November 10, 2022 – PT Jaminan Kredit Indonesia (Jamkrindo), a pioneer in credit guarantees in Indonesia, continues to strengthen and develop the micro, small, and medium enterprise (MSME) sector, recognizing its vital role as the backbone of the nation's economy. By providing credit guarantee services, Jamkrindo aims to scale up MSME businesses, enabling them to contribute to the government's strategic programs, particularly in economic development.
Kadar Wisnuwarman, Director of Operations and Network at Jamkrindo, explained that the company has been entrusted by the government to channel guarantees for People’s Business Credit (KUR) and Working Capital Credit (KMK) under the National Economic Recovery (PEN) program. Since the KUR program began in 2007, up until September 2022, Jamkrindo has provided guarantees for 25,040,133 MSMEs, with a total guarantee volume of Rp708.5 trillion. For KMK under the PEN program, since its launch in 2020, Jamkrindo has facilitated guarantees for 37,327 MSMEs, with a total volume of Rp20.3 trillion as of September 2022.
"On this National Heroes Day, all of Jamkrindo's personnel reaffirm their commitment to strengthening their role and dedication, with the spirit of heroism, to boost MSME growth and support government programs for national economic recovery," Kadar stated in an official press release on Thursday (10/11/2022).
Jamkrindo plays a strategic role in bridging feasible but not yet bankable MSMEs to gain effective and efficient financing access. Through its credit guarantees, Jamkrindo helps MSMEs that face challenges due to lack of collateral to access the financing they need to grow.
With a total of 65.4 million MSMEs, the sector contributes 61.07% to Indonesia’s GDP, amounting to Rp8,573.9 trillion, significantly higher than the Rp5,464.7 trillion contributed by large businesses. MSMEs also absorb 97% of the national workforce, or approximately 117 million workers, with micro-enterprises employing 107.4 million people, small businesses 5.8 million, and medium enterprises 3.7 million.
To optimize the potential of MSMEs, Jamkrindo actively implements programs for empowerment and mentorship. These programs are designed to enhance productivity, expand market reach, and enable MSMEs to advance to the next level, thereby making a significant impact on the national economy.
"The resilience demonstrated by MSMEs in overcoming economic challenges deserves full support from all stakeholders. Let us synergize with the spirit of heroism to strengthen MSMEs as the heroes of the national economy," Kadar added.
- Dadan M. Ramdan, Founder of Kopi Salarea in Garut, West Java, praised Jamkrindo's efforts: "Jamkrindo has made an extraordinary contribution to MSMEs in Garut by providing training, mentorship, and access to financing through its credit guarantee facilities. They have not only supported coffee entrepreneurs but have also inspired us to produce the best coffee with unique flavors that enrich Indonesia’s coffee heritage."
- Hariyanti, owner of CV Khansa Mandiri MSME in South Sulawesi, shared, "Thanks to Jamkrindo’s mentorship, our business has grown significantly. Through their guidance, we’ve participated in various activities and gained trust from international companies. Our business is thriving."
As a member of the Indonesia Financial Group (IFG), Jamkrindo offers both program and non-program guarantees, including:
- Program Guarantees: KUR and KMK under the PEN program.
- Non-Program Guarantees: General credit guarantees, microcredit guarantees, construction and procurement guarantees, distribution guarantees, surety bonds, customs bonds, supply chain financing guarantees (invoice financing), and more.
About Jamkrindo
PT Jamkrindo is Indonesia’s largest credit guarantee company and a key member of the IFG holding under PT Bahana Pembinaan Usaha Indonesia (Persero). Jamkrindo is committed to empowering MSMEs and driving national economic growth through its comprehensive credit guarantee products.
For further information, contact:
Agustinus Handoko
Head of Public Relations and Corporate Communications
PT Jaminan Kredit Indonesia