OJK Says Credit Restructuring Value Reaches Rp904tn



Petir Garda Bhwana

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  • TEMPO.CO, JakartaThe Financial Services Authority (OJK) chairman Wimboh Santoso said Rp904.3 trillion of the total Rp5,400 trillion had been provided for the credit restructuring program as of September 28, 2020.

    “It is 20-30 percent of the total credit,” said Wimboh in a virtual discussion on Monday, October 19.

    The credit restructuring funds were disbursed to micro, small, and medium enterprises (MSMEs) worth up to Rp359.98 trillion to 5.82 million debtors, and Rp544.31 trillion was provided to 1.64 million debtors of non-MSMEs sector.

    “No problem, we will make it alive again when the time comes. And now we have started to provide various incentives,” Wimboh added.

    He stated that the government through the Finance Ministry was trying to provide space for businesses to bounce back during the COVID-19 pandemic. “This is a synergy policy of various sectors, both financial and monetary,” he said.

    The credit restructuring program was also granted to financing institutions. As of October 13, the value has reached Rp75.21 trillion.

    Wimboh explained that the government was trying to maintain liquidity as businesses and entrepreneurs had been affected by the COVID-19 pandemic. “Especially the financial sector,” he said.

    Also Read: OJK: Economic Recovery Depends on COVID-19 Mitigation