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Jakarta, August 4, 2022 — In its continuous effort to drive national export growth, the Indonesian Export Financing Institution (LPEI)/Indonesia Eximbank is strategically collaborating with various institutions. The signing of a Memorandum of Understanding for the Marketing Cooperation of Trade Credit Insurance (TCI) products with the insurance broker PT Bringin Sejahtera Makmur (Brisma), a subsidiary of Bank Rakyat Indonesia's Pension Fund (BRI), is a manifestation of LPEI's commitment to fulfilling one of its four mandates, which is insurance. The signing of this collaboration was carried out by LPEI's Director of Business Development, Maqin U. Norhadi, Director of Financial and Operational Affairs, Agus Windiarto, and Brisma's President Director, Noroyono, at LPEI's Head Office, witnessed by LPEI's Executive Director, Rijani Tirtoso (August 4).
This collaboration aims to increase access to the marketing of LPEI's Trade Credit Insurance products while helping Indonesian businesses and exporters feel secure when conducting export transactions.
LPEI's Executive Director, Rijani Tirtoso, explained that one of their mandates to boost national exports is through export insurance.
"Our Trade Credit Insurance product is designed to cover the risk of buyer default, making it highly beneficial for increasing the confidence level of debtors or exporters, and, of course, for banking, especially when penetrating specific target countries and buyers," Rijani stated in her address.
The scope of this collaboration allows Brisma to not only market LPEI's Trade Credit Insurance products to debtors/exporters but also to market them to banks, particularly when providing AR Financing facilities and/or other working capital credit. Thus, it is hoped that exporters can expand into new markets without any concerns.
Noroyono, President Director of Brisma, expressed his appreciation to LPEI, stating, "It is an honor for us to collaborate with LPEI, and we hope to be a good partner in supporting LPEI's mandate to drive national exports."
As a Special Mission Vehicle under the Ministry of Finance of the Republic of Indonesia, LPEI has a role to enhance national exports through the provision of financing, guarantees, insurance, and consultancy services. The export insurance facilities provided are expected to optimally support Indonesian exporters for market expansion while mitigating risks.
The export insurance facilities provided by LPEI are a concrete manifestation of the state's presence in improving the performance of national exports, providing protection and security for Indonesian businesses in their export transactions.
Media Contact:
Chesna F. Anwar
Corporate Secretary – Indonesian Eximbank
Phone: (021) 39503600
Email: corpsec@indonesiaeximbank.go.id
Web: indonesiaeximbank.go.id
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