South Korean Bank Joins Govt`s Mortgage Subsidy Program

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  • TEMPO.CO, Jakarta - The Public Works and Public Housing Ministry signed an Operating Cooperation Agreement (PKO) with South Korea-based Bank Hana Indonesia or Hana Bank.

    The collaboration marks the first involvement of a foreign bank in the mortgage subsidy program for low-income people through the ministry's "one million homes" initiative.

    Baca: Uang Muka KPR 0 Persen, BTN: Tanggung Jawab Kurang Mengikat

    The ministry’s Director General of Housing Financing Lana Winayanti said Bank Hana would be involved in the disbursement of the People’s Housing Loans (KPR) with the Mortgage Liquidity Facility (FLPP) scheme.

    "The loan receivers are Indonesian people," Lana said here during the signing ceremony between the ministry and 43 banks who will be tasked with disbursing the loans, Tuesday, August 14.

    According to Lana, Hana Bank is expected to target Indonesian employees in Korean companies that work with Indonesian companies.

    "They have workers, and perhaps they are the ones who will be the target of Hana Bank," he said.

    So far, Lana said, Bank Hana is the only foreign lender tasked with disbursing the FLPP mortgage. Lana added that other foreign banks are allowed to take part, provided they meet the 50-percent loan disbursement target.

    The Credit disbursement by Bank Hana - and 42 national banks that are also involved in the program - will be evaluated at the end of this year 's third quarter or by September. If they do not reach the target, the banks night be crossed out from the program--replaced by others who are ready and up for the task.

    Fajar Pebrianto