Pertamina Distributes IDR 150 Billion Capital for MSMEs to Rise and Be Independent

Jakarta, August 29, 2020 - Pertamina distributes business capital of up to IDR 150 billion for Micro, Small, and Medium Enterprises (MSMEs) in various regions in Indonesia to rise and be independent during a pandemic.

The capital loans for MSMEs is based on Pertamina's commitment, which is to implement the spirit of Sustainable Development Goals (SDGs), namely inclusive and sustainable economic growth and a full and productive workforce in the Goal 8 SDGs. The goal is to be able to help people stay productive and get a decent income. Therefore, in the end, it will encourage national economic growth.

Vice President of Corporate Communication of Pertamina, Fajriyah Usman, said that Pertamina realized this role through the Partnership Program to help small businesses grow and develop through low-cost business capital loans.  The provision of business capital has very low administrative services, which is 3% per year. It is expected to have a positive impact on the development of MSMEs to be self-sufficient and independent, especially in a pandemic like now.

"This business capital loan is expected to be a stimulus for MSME players so that they can survive and even rise and upgrade so that they can get through the challenges of the Covid-19 pandemic," added Fajriyah.

For MSMEs to be successful, continued Fajriyah, Pertamina will not only distribute business capital loans but also provide business training and guidance.  Pertamina will also select MSMEs that will receive business capital so that the funds can be productive and sustainable for the goals to be achieved, namely that MSMEs are to rise and be independent.

In distributing the credit, Pertamina collaborates with PT Bahana Artha Ventura (BAV), a subsidiary of PT Bahana Indonesian Business Development (BPUI), which is one of the state-owned insurance and underwriting holding companies known as the Indonesia Financial Group (IFG).

"Pertamina is open to cooperation from various parties to support the development of MSMEs. We hope this collaboration can run well and smoothly so that it can continue in the future," explained Fajriyah.

According to Fajriyah, Pertamina's Partnership Program has been implemented since 1993 and has distributed partnership assistance to more than 63 thousand fostered partners from Sabang to Merauke.

"The number continues to increase, in line with Pertamina's efforts to support national economic recovery," concluded Fajriyah.**