PT Jamkrindo plays an active role in the National Economic Recovery (PEN) Program by providing credit guarantees for working capital loans to micro, small, and medium enterprises (MSMEs). This government initiative serves as an economic stimulus to revive businesses impacted by the COVID-19 pandemic.
The cooperation agreement was first signed between PT Jamkrindo and the government through a Guarantee Cooperation Agreement (PKP), followed by agreements between PT Jamkrindo and banks distributing working capital loans under the PEN program on Tuesday (July 7, 2020). In this initiative, the government assigned PT Jamkrindo and PT Askrindo as the official guarantors.
PT Jamkrindo’s President Director, Randi Anto, emphasized the company’s full support for the PEN program, highlighting the urgent need for economic recovery post-pandemic.
"We carry out this government mandate as best as possible, just as we continue to guarantee the People's Business Credit (KUR) program, which remains ongoing," Randi stated.
The COVID-19 pandemic has negatively impacted the economy, especially the MSME sector, as many entrepreneurs have run out of working capital. Through the PEN program, the government aims to revitalize the economy by providing additional working capital. This allows MSMEs to prepare for the new normal era.
The working capital loan guarantee under the PEN program offers: Loan ceiling: Up to IDR 10 billion, Loan tenure: Up to three years.
The benefits of this credit guarantee include: Economic sustainability – Ensuring economic activities continue, GDP growth – Boosting national economic output, Job creation – Encouraging employment recovery in both formal and informal sectors.
As the government continues to implement health protocols to mitigate the COVID-19 impact, it has also introduced several regulations to keep the economy running through the PEN program : Minister of Finance Regulation No. 71/PMK.08/2020 – Governs government guarantee mechanisms through designated guarantee institutions under PEN implementation and Minister of Finance Decree No. 304/KMK.06/2020 – Assigns PT Jamkrindo to execute government guarantees in the PEN program.
"Through a series of government-initiated stimulus programs and support from relevant institutions, including our guarantee company, we hope that the real sector economy can move forward again and create more job opportunities," concluded Randi.