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News Updates 26 October 2021
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BI Facilitates BSI-SMI Financing with AJR for the Trans-East Sumatra Project

Bank Indonesia (BI) together with the National Committee for Sharia Economy and Finance (KNEKS) and the Ministry of Public Works and Public Housing (PUPR) facilitated a sharia financing agreement between Bank Syariah Indonesia (BSI) and PT Sarana Multi Infrastruktur (SMI) and PT Adhi Jalintim Riau ( AJR).

Director of the Department of Economics and Sharia Finance of Bank Indonesia Prijono said that the three parties agreed on sharia financing worth Rp.

"The project is quite large, worth Rp. 420 billion, in the form of a route across the east of Sumatra. I imagine that if it is connected, what was previously inaccessible becomes possible, hopefully it can make logistics more efficient," said Prijono at the online financing agreement ceremony which was monitored in Jakarta, Tuesday (26/10/2021).

With this agreement, Prijono hopes that Islamic banks or other Islamic financial institutions can play a greater role in national infrastructure development which cannot only be done by the government through the State Revenue and Expenditure Budget (APBN).

On the same occasion, Director of Sharia Financial Services KNEKS Taufik Hidayat said that the sharia financing agreement between the three parties is a strategic thing to do.

This is because the government in the 2020-2024 National Medium-Term Development Plan (RPJMN) targets investment to meet infrastructure needs to reach Rp. 6,445 trillion. From that value, due to the COVID-19 pandemic, the APBN and APBD have only been able to meet about 30 percent.

"This condition also occurs for the drinking water supply system sector, where the APBN only contributes 26 percent of the total investment needs of Rp. 143 trillion until 2024," said Taufik as quoted by Antara.

Since 2019, KNEKS has coordinated and conducted intensive studies with relevant stakeholders to encourage the development of national infrastructure with the sharia Government and Business Entity Cooperation (PPP) scheme.

"In 2021, KNEKS massively cooperates with the Ministry of PUPR in increasing the contribution of sharia financing in infrastructure with the sharia PPP scheme. The attention and support of the Ministry of PUPR is extraordinary," he said.

 

Source: akurat.co

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