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Jakarta, January 30, 2023 - The Indonesian Export Financing Institution or Indonesia Eximbank remains committed to contributing to the national economic growth agenda by collaborating with PT Bank Pembangunan Daerah Jawa Barat dan Banten (bank bjb) to support Indonesian companies in expanding their markets abroad.
This commitment is demonstrated through the provision of Credit Guarantee facilities to PT Taka Hydrocore Indonesia to support the company's business expansion into the export market. PT Taka Hydrocore Indonesia is an Indonesian company in the services sector that has been entrusted with an Offshore Geotechnical project in Congo, West Africa. In this project, PT Taka Hydrocore will conduct geotechnical surveys off the coast of Congo, West Africa.
"This collaboration is a form of government support to encourage Indonesian companies to expand into non-traditional markets, as PT Taka Hydrocore Indonesia is doing with its project in Congo, West Africa," said Maqin U. Norhadi, the Executive Director of Business Development at LPEI, on a separate occasion.
The collaboration between LPEI and bank bjb is an implementation of the regulation mandated to LPEI in Law Number 2 of 2009 Article 7C, which states "Guarantee for banks that become partners in providing financing for export transactions given to Indonesian exporters."
Furthermore, the facility provided to PT Taka Hydrocore Indonesia is a concrete form of LPEI's support as a credit enhancement to Indonesian companies in the services sector, as stated in Law Number 2 of 2009 Article 7B, which reads "Guarantee for Indonesian importers of goods and services abroad for payments already made or to be made to Indonesian exporters for financing export contracts for the sale of goods and/or services or the fulfillment of work or services carried out by an Indonesian company."
This success is a realization of the collaboration between the two institutions through the Credit Guarantee facility, which has been established since March 2022. Through this facility, LPEI provides guarantees for credits from bank bjb customers (exporters) who meet the requirements.
"Alhamdulillah, the implementation of the credit guarantee for PT Taka Hydrocore Indonesia is concrete evidence of LPEI's role in encouraging Indonesian companies to expand into international markets. With the provision of this facility, it is expected that Indonesian business players can be more confident in competing in the global market," said Maqin.
LPEI's Credit Guarantee is indeed different from other commercial guarantee products. Through this Credit Guarantee, LPEI, as the Special Mission Vehicle of the Ministry of Finance of the Republic of Indonesia, can collaborate with National Banks to make a real contribution in driving national exporters into the global arena.
The support of Credit Guarantee facilities, both in the form of working capital and investment, is a tangible form of LPEI's support for government programs and policies to improve the national export performance.
Media Contact:
Chesna F. Anwar Corporate Secretary - Indonesian Export Financing Institution
Ph.: (021) 39503600
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