Jakarta – PT Jamkrindo has signed a Credit Guarantee Cooperation Agreement for Construction and Procurement Working Capital with PT Bank Pembangunan Daerah Nusa Tenggara Timur (Bank NTT).
The agreement was signed by PT Jamkrindo's Director of Guarantee Business, Suwarsito, and Bank NTT's Director of Credit, Paulus Stefen Mesakh, witnessed by Bank NTT's President Director, Harry Alexander Riwu Kaho.
According to Suwarsito, this partnership is a strategic step for both companies to expand and strengthen their long-term relationship. The Cooperation Agreement (PKS), signed on Thursday, March 24, 2022, is an extension of a previous agreement that has been in place since 2016. The estimated guarantee volume from this cooperation is approximately IDR 250 billion per year.
"This cooperation is a strategic move for both companies to continuously expand and strengthen our relationship," said Suwarsito.
The credit facilities covered under this agreement include those provided for project development and/or procurement of goods/services, where the funding comes partially or entirely from the following sources: State Budget (APBN), Regional Budget (APBD), State-Owned Enterprises (BUMN), State-Owned Legal Entities (BHMN), Regional-Owned Enterprises (BUMD), Government Institutions, Foreign Aid (BLU)
As a credit guarantee company, PT Jamkrindo is committed to implementing comprehensive risk mitigation policies. This includes the application of loss limits and the "Four Eyes Principle", which ensures accountability and risk assessment by multiple decision-makers.
"This initiative reflects our commitment to providing an accountable, prudent, and transparent credit guarantee service with good corporate governance and high integrity," Suwarsito emphasized.
PT Jamkrindo is the largest guarantee company in Indonesia. As a pioneer in the credit guarantee industry, the company offers both program-based and non-program-based guarantee products.
For program-based guarantees, PT Jamkrindo provides People’s Business Credit (KUR) guarantees.
For non-program-based guarantees, its products include general credit guarantees, microcredit guarantees, construction and procurement credit guarantees, goods distribution guarantees, surety bonds, customs bonds, Supply Chain Financing (Invoice Financing) guarantees, and other financial guarantee services.