events     October 22, 2020

Signing of the Regional PEN Loan Agreement with the Regency Government of Probolinggo

The regional PEN loan facility is part of the National Economic Recovery Program (PEN) launched by the Central Government as a stimulus for areas affected by Covid-19 and can be used to keep regional infrastructure development rolling.

Probolinggo Regency is one of the districts affected by Covid-19, so the local government has applied for a Regional PEN loan so that it can continue to build priority infrastructure. Through a loan agreement that has been evaluated with the Directorate General of Fiscal Balance – Ministry of Finance and the Ministry of Home Affairs in a transparent and accountable manner, the President Director of PT SMI, Edwin Syahruzad together with the Regent of Probolinggo, Tantriana Sari, signed a Regional PEN Loan Agreement worth Rp9.3 billion, which is done circularly (20/10).

With this regional PEN loan stimulus, PT SMI hopes that the Central Government’s plan to accelerate regional economic recovery can be realized in Probolinggo Regency.

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