events     October 18, 2020

Signing of the Regional PEN Loan Agreement with the Regency Government of Gianyar, Bali

Gianyar Regency, located in Bali, has experienced an economic downturn caused by the Covid-19 pandemic. The decline in economic value in the local area has forced the Gianyar Regency Government to refocus and reallocate the regional budget through the Government’s PEN program, where the distribution of funds is carried out by PT SMI.

Following up on a proposal from the Gianyar Regency Government regarding a request for PEN assistance, the President Director of PT SMI, Edwin Syahruzad, together with the Regent of Gianyar, I Made Mahayastra, signed a Regional PEN Loan Agreement worth Rp134 billion in order to accelerate economic recovery in Gianyar Regency (15/10) .

Through an evaluation process with the Directorate General of Fiscal Balance – Ministry of Finance and the Ministry of Home Affairs, this loan will be used by the Gianyar Regency Government to finance priority infrastructure sectors, such as health, markets, water resources, creative works, community development, and also education, so that It is hoped that the targeted development sector can provide benefits for improving the welfare of the community in the local district.

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