Micro, Small and Medium Enterprises (MSMEs) are one of the fundamental of the Indonesian economy which has the potential to bring quality local products to the world. The Indonesian Export Financing Agency (LPEI)/ Indonesia Eximbank as the Ministry of Finance’s Special Mission Vehicle (SMV) in increasing national exports, has a mandate to support MSMEs, especially those that are export oriented. In realizing this mandate, LPEI signed a working capital credit agreement worth IDR 50 billion with PT Sarinah (Persero).
The signing of the working capital financing was carried out at the LPEI Head Office, by Executive Director I, Dikdik Yustandi and Executive Director II, Maqin U. Norhadi from LPEI. Meanwhile from PT Sarinah (Persero), the signatory was Fetty Kwartati as the Main Director. The facility would be valid for the next 1 (one) year.
This financing would later be used by PT Sarinah (Persero) to support curated MSMEs so that they can meet the demands of foreign buyers. As a curator, PT Sarinah (Persero) is committed to marketing MSME products to the global market. One of the strategies that would be carried out is to establish duty free cooperation with global companies so that later Indonesian local products can be sold in international duty free networks. This is in line with Sarinah’s transformational vision, namely “Growing and Developing Excellence for National MSMEs” so that they can compete in the global market while building the Proud Made in Indonesia movement.
“The provision of working capital financing was carried out since we saw a similar vision between LPEI and PT Sarinah (Persero) in supporting UMKM Go Global. Apart from that, we also see other cooperation opportunities such as the Coaching Program for New Exporters (CPNE) to increase the capacity of export-oriented MSMEs. In essence, we would support and make every effort to help MSMEs, especially those that are export-oriented,” said Executive Director I of LPEI, Dikdik Yustandi.
Meanwhile, PT Sarinah (Persero) appreciates the support provided by LPEI through the working capital financing facility. His party is committed to consistently helping Indonesian MSMEs to speak more on the international stage.
“This working capital financing from LPEI would really help us in carrying out our vision to support MSMEs to market their products globally. MSMEs would directly benefit from this financing facility. In addition, the cooperation of the two parties indirectly contributes to the business transformation that we are currently carrying out,” said PT Sarinah (Persero) Main Director Fetty Kwartati.
The signing of the financing facility between LPEI and PT Sarinah (Persero) would be the start of collaboration in supporting MSMEs. Both parties also agreed to work together in creating Indonesian MSME exporters that are superior and have competitiveness in the international market.
This article has been published on indonesiaeximbank.go.id with the title “Dukung Ekspor UMKM, LPEI Biayai PT Sarinah (Persero) Senilai Rp50 Miliar”, https://www.indonesiaeximbank.go.id/news/detail/dukung-ekspor-umkm-lpei-biayai-pt-sarinah-persero-senilai-rp50-miliar.
Translator: Ritya Bilqiis
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