Prabowo urges lower loan rates for UMKM at Himbara
The Palace directive also puts food among priority lending sectors for state-owned banks, officials said.
President Prabowo Subianto asked Himbara banks to lower loan interest rates for micro, small and medium enterprises so they are below corporate lending rates. The directive was delivered at a meeting at the Presidential Palace in Jakarta on Thursday, attended by the leadership of Bank Mandiri, BNI, BRI, BTN and BSI along with several ministers. Investment Minister and downstreaming chief executive Rosan Roeslani said Prabowo believes some UMKM still receive rates equal to or even higher than those charged to corporations. At the same forum, Prabowo also asked Himbara to remain prudent, noting the five banks have a market capitalization of about Rp1.100 trillion, or nearly 10 percent of the total value of listed companies on the Indonesia Stock Exchange. He also emphasized financing for the food sector as part of the economic self-reliance agenda.