PBNU sets up mining cooperative, finance minister offers cheap credit
The Finance Ministry will involve PIP and SMI to explore lower-cost financing for PBNU’s cooperative.
PBNU sought guidance from the Finance Ministry on establishing Koperasi Produsen Bangkit Usaha Mandiri Nusantara to manage mining concessions for religious groups. In a meeting at PBNU headquarters in Jakarta on Wednesday, PBNU Chairman Yahya Cholil Staquf said the arrangement must follow the state finance regime so it does not stray from the rules. Finance Minister Purbaya Yudhi Sadewa responded by opening the door to financing support through Pusat Investasi Pemerintah and PT Sarana Multi Infrastruktur, so PBNU’s cooperative could obtain cheaper credit than the market rate. PBNU also said it had coordinated with the Energy and Mineral Resources Ministry on the mining concession aspect, while Finance Ministry support was needed to build the financing structure and governance.