PT Jamkrindo continues to support the National Economic Recovery (PEN) Program, initiated by the Indonesian government, by collaborating with 26 banks as of Friday, October 16, 2020. This initiative aims to facilitate working capital loan guarantees for micro, small, and medium enterprises (MSMEs) affected by the economic impact of COVID-19.
According to President Director Randi Anto, Jamkrindo and its subsidiary, Jamkrindo Syariah, have guaranteed a total of 236,589 PEN debtors, with a guaranteed credit value of Rp 4.7 trillion. This includes Rp 3.7 trillion under Jamkrindo and Rp 1 trillion under Jamkrindo Syariah.
"The purpose of providing working capital loans is to protect, sustain, and enhance the economic capacity of business players, particularly MSMEs," said Randi Anto in a press release on October 16, 2020.
Randi emphasized that the PEN loan guarantee program plays a crucial role in boosting banks' confidence in disbursing working capital loans. In addition to providing guarantees, Jamkrindo actively supports MSMEs through: Capital assistance via the Partnership Program, Infrastructure support to enhance MSME capabilities.
As part of its community empowerment efforts, Jamkrindo recently donated a mango processing machine to UKM Saluyu and provided hydroponic farming facilities to the Ciletuh Homestay Association.
Since early 2020, Jamkrindo and UKM Saluyu have been collaborating to explore business ideas based on local raw materials. They decided to add value to mangoes, one of the key commodities in Geopark Ciletuh, by processing them into crisps.
Notably, many members of UKM Saluyu are former Indonesian migrant workers (TKI) who returned home to start businesses amid Geopark Ciletuh's growing popularity.
"Community empowerment is part of our contribution to achieving the Sustainable Development Goals (SDGs). As a credit guarantee company deeply connected to the community, we want to make a direct impact on society," said Randi Anto.
PT Jamkrindo is part of the Indonesia Financial Group (IFG), a state-owned insurance and guarantee holding company led by PT Bahana Pembinaan Usaha Indonesia (Persero). As Indonesia’s largest credit guarantee company, Jamkrindo is committed to supporting banks and non-bank financial institutions.
IFG plays a strategic role in ensuring the successful implementation of the PEN program, mitigating the economic effects of COVID-19. The working capital loan guarantees for MSMEs are facilitated by Jamkrindo and PT Askrindo, both members of IFG.
With this initiative, Jamkrindo reaffirms its dedication to strengthening Indonesia’s MSME sector, supporting national economic recovery, and ensuring sustainable business growth.