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Jakarta, December 20, 2022 — In an effort to boost national exports through financing, LPEI will increasingly focus on the SME segment and Special Assignment or known as National Interest Account (NIA). Additionally, LPEI will also enhance its role as a credit enhancer by providing guarantees and export-related insurance. All of this will be done in collaboration with the banking sector, the export ecosystem, and other relevant institutions.
The approval of the Indonesian House of Representatives (DPR RI) and the Government regarding the Development and Strengthening of the Financial Sector Law (UU PPSK) on Thursday, December 15th, is believed to have a positive impact on improving Indonesia's export performance. This includes provisions that allow LPEI to participate in the national and international payment system and to receive Export Proceeds (DHE) from LPEI debtors' export transactions, which will then be incorporated into the national financial system.
Riyani Tirtoso, Executive Director of LPEI, said, "The decision that LPEI can receive DHE is a reinforcement of LPEI's role in fulfilling its mandate to support the export-oriented sector by providing financing, guarantees, and insurance. Furthermore, the products and services provided by LPEI to meet the needs of debtors will become more comprehensive, ranging from working capital for purchasing raw materials to assisting post-export working capital."
"The management rules of DHE accounts by LPEI not only provide convenience for LPEI debtors in receiving payment receipts from foreign buyers but also make banking transaction costs more efficient for both corporate and SME debtors in conducting their export transactions. The distribution of DHE to LPEI will also expand access for exporters to enter non-traditional markets. This condition is possible due to the cooperation network that LPEI has with banking, insurance companies, guarantee companies, and Eximbanks in the countries or regions to which Indonesia's exports are destined," explained Riyani. The business interaction process between LPEI and debtors/exporters can be carried out more effectively and efficiently, as information can be obtained directly by LPEI rather than through domestic foreign exchange banks.
As of November 2022, the total financing disbursed by LPEI has reached more than IDR 87.491 trillion, covering special export assignment financing of more than IDR 3.695 trillion for 133 debtors in the furniture, processed food, finished textile products, electronic equipment, other rubber products, wood materials, chemicals, paper and paper products, fabrics, plastics, iron and steel, copra and coffee, construction, transportation, and others.
Commercial financing has been channeled to 549 debtors in nickel, gold, precious metals and gemstones, palm oil, paper and paper products, fabrics, machinery, processed food, natural rubber, wood materials, pharmaceutical products, electronic equipment, footwear, ready-made apparel, motor vehicles and parts, tobacco, transportation, services, and other industries, with an outstanding amount of IDR 83.796 trillion.
LPEI recorded an increase in exports to 183 countries from USD 12,980,913,559 in 2020 to USD 13,969,053,134 in 2021. Riyani emphasized, "Furthermore, LPEI will continue to drive export growth with a stronger focus on the SME segment and special assignments (NIA).
Media Contact:
Chesna F. Anwar
Corporate Secretary – Indonesian Export Financing Institution
Phone: (021) 39503600
Email: corpsec@indonesiaeximbank.go.id
Web: indonesiaeximbank.go.id
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