Indonesia Export Financing Institution Gets Rp2,5 Trillion in Capital Injection
Date 8 Juli 2019
In a bid to boost export through the National Export Financing Including the Special Assignments scheme, the Government has provided Rp2.5 trillion in capital injection to the Indonesia Export Financing Institution (LPEI) or Indonesia Eximbank.
The decision was formalized through the issuance of Government Regulation Number 44 of 2019 on Additional State Capital Injection of the Republic of Indonesia to the Capital of Indonesia Export Financing Institution signed by President Joko Jokowi Widodo on 25 June 2019.
The capital injection is financed by the 2019 State Budget.
Based on Article 2 Paragraph (2) of the Government Regulation, it is stated that the capital injection is Rp2.500.000.000.000,00 (two trillion five hundred billion rupiah), which consists of a. Rp1.500.000.000.000,00 (one trillion five hundred billion rupiah) used to increase business capacity of the Indonesia Export Financing Institution and b. Rp1.000.000.000.000,00 (one trillion rupiah) used to carry out Special Government Assignments to the Indonesia Export Financing Institution in accordance with the provisions.
The Government Regulation comes into effect on the date of its promulgation on 26 June 2019 by Minister of Law and Human Rights Yasonna H. Laoly. (Pusdatin/ES)
Translated by: Estu Widyamurti
Edited by: M. Ersan Pamungkas