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Jakarta, February 1, 2023 - The Indonesian Export Financing Institution (LPEI) / Indonesia Eximbank, as the Special Mission Vehicle (SMV) of the Ministry of Finance of the Republic of Indonesia, continues its efforts to promote national exports and enhance the competitiveness of Indonesian products and services in the global market.
As stipulated in Law No. 2 of 2009, LPEI plays a role in promoting Indonesian exporters through financing, guarantees, insurance, and consulting services.
Additionally, LPEI carries out the mandate of Special Export Assignment (PKE) or National Interest Account (NIA), which includes assisting businesses and financial institutions in expanding their operations to non-traditional countries. This expansion is not limited to the South Asian and Middle Eastern regions but also includes African countries, as assigned through Minister of Finance Decree No. 1/KMK.08/2019 regarding Special Assignments to LPEI for Promoting Exports to African, South Asian, and Middle Eastern Countries.
The Special Export Assignment (PKE) or National Interest Account (NIA) is granted by the government to LPEI to provide financing, guarantees, and/or insurance for transactions or projects that may be commercially challenging but are deemed necessary by the government to support national export policies or programs.
In line with this, LPEI provides Credit Guarantee facilities within the framework of the Special Export Assignment (PKE) or National Interest Account (NIA) for the African, South Asian, and Middle Eastern regions ("PKE/NIA Regions").
In this context, support is provided in the form of Credit Guarantee facilities for the PKE/NIA Regions, covering Credit Facilities provided by PT Bank Pembangunan Daerah Jawa Barat dan Banten, Tbk. (Bank bjb) to PT Taka Hydrocore Indonesia. This support aims to assist the Indonesian geotechnical survey services company in implementing the Offshore Geotechnical Survey Services for the Congo LNG Project Offshore Congo, located off the coast of West Africa.
Maqin U. Norhadi, Executive Director of Business Development at LPEI, explained in a separate statement that the facility provided to PT Taka Hydrocore Indonesia in the form of guarantees using the PKE scheme for the region is a full support from LPEI to Indonesian exporters, particularly in the services sector. It is expected to enhance their competitiveness and facilitate export penetration.
Maqin added that this support is the result of the collaboration between LPEI and PT Bank Pembangunan Daerah Jawa Barat dan Banten (Bank bjb), which benefits exporters in terms of accessing financing and developing their business capacity. Thus, the role of LPEI as a Credit Enhancer is directly beneficial to business players.
Sonni Maulana Nurdin, Group Head of Corporate Banking at Bank bjb, explained that the partnership between Bank bjb and LPEI is a collaboration that reaffirms the commitment of both institutions to support the government's efforts in promoting national exports.
"Through this collaboration with LPEI, it enhances our confidence in providing working capital loans to Indonesian business players. Through this credit guarantee, we are committed to contributing to the promotion of national exports," said Sonny during a working visit with LPEI to assess the readiness of MV Dolphin Geo Survey vessel in Tanjung Uncang, Batam City, on Friday (January 20).
Meanwhile, Denni Andri, Director of PT Taka Hydrocore Indonesia, expressed gratitude for the support provided by both institutions, which has helped PT Taka Hydrocore Indonesia expand its business to Congo.
"For us, the support from Bank bjb and LPEI increases our confidence to compete globally, allowing us to proudly represent the Indonesian flag in other countries," said Denni. The government's role through LPEI in providing export financing, especially to non-traditional countries, stimulates strategic industries to engage in trade (exports) with those countries and enhances the competitiveness of Indonesian products and services in those target countries. Accumulatively, from 2019 to December 2022, LPEI has disbursed financing amounting to Rp2.2 trillion through the aforementioned PKE/NIA Regions program, aimed at promoting exports to non-traditional countries, including African countries, as well as South Asian and Middle Eastern regions.
Media Contact:
Chesna F. Anwar Corporate Secretary - Indonesian Export Financing Institution
Ph.: (021) 39503600
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