The Ministry of State-Owned Enterprises (BUMN) and the Ministry of Cooperatives and SMEs (Kemenkop UKM) have officially joined forces to support the recovery and development of cooperatives and MSMEs affected by the COVID-19 pandemic. This collaboration was formalized through the signing of a Cooperation Agreement on the Development and Empowerment of Cooperatives and MSMEs, signed by Minister of Cooperatives and SMEs, Teten Masduki, and Minister of SOEs, Erick Thohir.
The agreement focuses on several key areas, including: Human resource development and mentorship for MSMEs, Provision of raw materials, logistics, and marketing support, Integration of MSMEs into digital platforms.
Minister of SOEs, Erick Thohir, emphasized that state-owned enterprises (BUMN) should optimize their resources to support MSME development.
"I fully support the utilization of BUMN’s channels to develop MSMEs because BUMN exists for Indonesia," Erick Thohir stated.
He also stressed that this cooperation should not be limited to a ceremonial signing but must be followed by concrete actions and well-planned strategies to ensure its success.
"This agreement must lead to real collaborations that strengthen the national ecosystem, involving ministries, BUMNs, regional SOEs (BUMD), village-owned enterprises (BUMDes), private sectors, and strategic partners," Erick added.
PT Jamkrindo, as Indonesia’s leading credit guarantee institution, was also present at the event, represented by President Director Randi Anto and Director of Guarantee Business Amin Mas’udi.
Following the signing ceremony, Randi Anto expressed his enthusiasm for the government’s initiative, stating that Jamkrindo is fully committed to supporting this collaboration to ensure real benefits for cooperatives and MSMEs.
"We are excited and honored to be part of this positive initiative. As a credit guarantor, Jamkrindo will continue to support MSMEs through loan guarantees and business mentoring programs," said Randi.
Jamkrindo has been actively involved in various MSME development programs, including: Signing an MoU with LPDB-KUMKM, BGR Logistics, and Perinus to guarantee the management of revolving funds distributed to cooperative partners, Providing working capital guarantees to cooperatives to strengthen their financial capacity and business expansion.
"We hope that this working capital assistance, guaranteed by Jamkrindo, will have a positive impact on the national economy," Randi added.
During the signing event, Minister Erick Thohir reaffirmed his support for cooperatives and MSMEs, stating that Jamkrindo would play a crucial role as a credit guarantor in this collaboration.
He also praised Jamkrindo’s involvement in the National Economic Recovery (PEN) Program, particularly in guaranteeing working capital loans (KMK) for MSMEs.
"The government’s trust in Jamkrindo is a motivation for us to continue increasing our contribution to the nation," Randi Anto concluded.
MSMEs play a vital role in Indonesia’s economy, contributing: 61% of the country’s GDP, 97% of total employment.
Recognizing their importance, the government has introduced various economic recovery initiatives, including: Tax incentives, Loan restructuring programs, Interest subsidies, Working capital assistance, Credit guarantee fee subsidies.
With Jamkrindo’s continued support, the collaboration between Kemenkop UKM and the Ministry of SOEs is expected to empower MSMEs, drive economic recovery, and strengthen Indonesia’s financial ecosystem.