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Jakarta, December 18, 2023 - The Indonesian Export Financing Institution (LPEI) along with PT Bank Central Asia (BCA) Tbk reaffirms its commitment to support the development of the Marina Labuan Bajo area in East Nusa Tenggara by providing financing facilities and credit guarantees (blended financing) totaling IDR 1.05 trillion to PT Indonesia Ferry Properti (IFPRO).
In this project, LPEI, for the first time, plays a role as Joint Mandated Lead Arrangers and Bookrunners (JMLAB) alongside BCA. IFPRO, a subsidiary of PT ASDP Indonesia Ferry and PT PP (Persero) Tbk, has a special project for a super-priority tourism destination in Labuan Bajo. IFPRO will utilize these facilities for various initiatives, including the construction of the Meruorah Hotel, commercial areas, and new projects such as mid-tier hotels, additional commercial areas, as well as the development of docks and a marina.
Maqin U. Norhadi, Executive Director of Business Development at LPEI, explained, 'This is evidence of the government, through the Ministry of Finance, being present to build Indonesian exports, especially those based on tourism. The Marina Labuan Bajo area has high developmental impact potential, particularly in contributing to the increase in foreign exchange from international tourists and providing a multiplier effect on related industries, especially SMEs located in that area.'
Ira Puspadewi, CEO of PT ASDP Indonesia Ferry, stated, 'The presence of the state is highly visible in Labuan Bajo with rapid development. There used to be only one hotel with good services, and now there are 6 internationally rated hotels. The West Manggarai ecosystem has changed and grown towards a better direction. This is a form of the state's presence with noble intentions.'
Rudy Kurniawan, VP of the Corporate Banking Group at BCA, said, 'BCA is committed to consistently financing the development of domestic tourist destinations. We hope that the credit we provide can drive the growth of tourism and the economy in Indonesia, especially in the East Nusa Tenggara region.'
Ferry Snyders, CEO of PT Indonesia Ferry Properti, also mentioned, 'With the signing of this credit agreement, besides improving IFPRO's financing structure itself, it also strongly supports the development of the Integrated Marina Labuan Bajo Area and enhances the attraction of tourists, especially international tourists, to come to Labuan Bajo.'
This financing and credit guarantee is part of a specific assignment to LPEI to provide export financing, particularly in supporting Super Priority Tourism Destinations, an initiative of the Ministry of SOEs through Letter No. S-1015/MBU/12/2021 dated December 22, 2021. Furthermore, the Specific Assignment to LPEI for Marina Infrastructure Development and Tourism Support in Super Priority Tourism Destinations was issued through Minister of Finance Decree (KMK) No. 272/KMK.08/2022 on July 5, 2022.
A total of IDR 8.7 trillion has been allocated for various Export Special Assignment (PKE) programs, including PKE Mandalika Tourism, PKE MSMEs, PKE Transportation Tools, and others. As of November 30, 2023, the total cumulative disbursement of PKE has reached IDR 12.96 trillion, involving 80 export products and over 100 export destination countries.
As a Special Mission Vehicle (SMV) of the Ministry of Finance of the Republic of Indonesia, LPEI is committed to continuously supporting these strategic projects to drive national economic growth, especially in the tourism sector, and create new opportunities for businesses in Indonesia. LPEI will continue to collaborate with the export ecosystem, especially with financial institutions like BCA, to enhance the competitiveness of businesses, enabling them to grow and contribute to the increase in the country's foreign exchange earnings.
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Chesna F. Anwar
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