Government Measures to Mitigate Covid-19 Risk
OJK's Role in the National Economic Recovery Program (PEN)
National Economic Recovery Program
(PEN) PP No. 23/2020
OJK carry out efforts to support the economic
recovery, through:
Fund Placement
Placement of funds by the Government to
provide liquidity support to banks conducting
loan restructuring and to provide additional
creditworking capital financing
OJK supports the program through Liquidity
Buffer and Credit Restructuring to Banks and
Multi-Finance Companies
Providing Interest Subsidies for MSMEs
Article 20 Paragraph 2 Government Regulations No. 23 of 2020
All debtors with credits up to IDR500 million will be given interest
subsidies while debtors with credits up to IDR10 billion will go
through the same mechanism with credit restructuring program.
The program is eligible for debtors of banks/multi-finance
companies with Performing Loan (Kol 1 and Kol 2) before
COVID-19, valid from 29 February 2020.
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•
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Targeted
Beneficiaries
MSMEs debtors with credits up
to IDR10 billion
Debtors of housing loans (KPR)
up to type 70
Debtors of motorcycle loans for
productive activities, including
online transportation and
informal business
OJK's Role
Providing necessary information in
the implementation of interest
subsidies based on the procedure
which will be arranged through Joint
Decision Letter (SKB)
•
III
Other Requirements
Obedient taxpayer
Excluded from National
Blacklist (DHN)
Mechanism
The provision regarding the
budgeting, implementation, and
responsibility mechanism of
interest subsidies and debtor
requirements are regulated in
the Minister of Finance
Regulation (PMK)
Source: Financial Service Authority (OJK)
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