TEMPO.CO, Jakarta - The government will soon provide an export financing scheme for a number of commodities that have not been explored to their fullest, reports said Friday, July 31, 2015.
This scheme will guarantee and insure overseas shipping with low interest rates. The state institution that will facilitate the scheme is state-owned Indonesian Export Financing Agency (LPEI), an agency that works under the Finance Ministry.
Under this scheme, products that are commercially less feasible for export can be marketed abroad, said Robert Pakpahan, director general of finance and risk management.
"This is an effort to boost exports and expand Indonesian products' market," he said on Thursday.
As the legal basis for tasking the LPEI with export financing, the Finance Ministry issued a Minister Regulation (PMK) No.134/2015, which stipulates a capital disbursement for the LPEI to use in financing the export of certain products.
Brahmantyo Isdijoso, director of financial risk management, said his department is currently forming an export financing committee together with the Trade Ministry and the Industry Ministry. The scheme is targeted to take effect in September.
"The committee will be in charge of selecting products that qualify for overseas market," he said.