President Jokowi Opens BRI Microfinance Outlook 2024

President Jokowi opens BRI Microfinance Outlook 2024, at BRILiaN Tower, Jakarta, Thursday (03/07). (Photo by: PR/Jay)

President Joko “Jokowi” Widodo Thursday (03/07) underscored the importance of the MSMEs to drive the Indonesian economy.

“The contribution of MSMEs to our GDP is 61 percent, which is enormous, while employment in the MSMEs sector is 97 percent, which is also huge. Therefore, it’s not the wrong thing if we pay special attention to MSMEs,” President Jokowi said at the opening of BRI Microfinance Outlook 2024 at BRILiaN Tower, Jakarta.

BRI’s efforts, the Head of State continued, in developing digital banking services to the lowest level deserved appreciation. By managing around 740,000 agents of branchless banking program BRILink with annual transactions reaching Rp1,400 trillion, BRI helps facilitate financial access for MSMEs entrepreneurs while reducing the dominance of loan sharks and strengthening the microfinance sector.

According to President Jokowi, the increase in the number of customers in BRI’s micro financing programs is very significant, such as Ultra Micro (UMi) Holding and Fostering the Economy of the Prosperous Family (PNM Mekaar). “UMi customers reached 8.2 [million] while PNM Mekaar reached 15.2 million. In 2015, I remember PNM Mekaar only had approximately 400 thousand customers,” he added.

President Jokowi also expressed appreciation to the quality improvement made by MSME products, including in packaging and branding, as an important factor in strengthening the competitiveness and export capabilities of the country’s MSMEs.

“A smallholder, household business with a loan of Rp5 million at PNM Mekaar can have such package, this is extraordinary. This is what we must continue to push for. Banks and the Government must provide encouragement to strengthen our competitiveness to enter the export market. This product has been exported to neighboring Brunei and Malaysia,” he remarked. (FID/UN) (GWH/MUR)