events     October 19, 2020

Signing of the Regional PEN Loan Agreement with the Regency Government of Morotai Island

Morotai Island Regency must reallocate the Regional Revenue and Expenditure Budget (“APBD”) to deal with the Covid-19 pandemic in Morotai Regency. This prompted the District Gov’t to submit loan proposals to maintain the sustainability of the planned infrastructure project development.

This loan proposal worth Rp200 billion was approved and followed up through the signing of the Regional PEN Loan Agreement by the President Director of PT SMI, Edwin Syahruzad and also the Regent of Morotai Island, Benny Laos, which was carried out at the PT SMI office (16/10). With this loan, the District Gov’t will again build priority infrastructure sectors in the local district, namely tourism, transportation, informatics, health, education, sports facilities, roads and bridges, markets, and water resources.

This approved loan proposal has previously been evaluated with the Directorate General of Fiscal Balance – Ministry of Finance and Ministry of Home Affairs. It is hoped that this regional PEN loan can be utilized in an appropriate manner so that it will have an impact on the community in Morotai Island Regency.

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