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Press Release 19 August 2021
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PT SMI Gives Stimulus of Regional PEN to NTT and NTB Provincial Government to Encourage Regional Priority Infrastructure Development

Jakarta, August 19, 2021 – PT Sarana Multi Infrastruktur (Persero) (“PT SMI”) approved the proposed Regional National Economic Recovery Loan (“PEN”) for the Provincial Government (“Regional PEN Loan”) of East Nusa Tenggara in the amount of Rp. 1 trillion and the Provincial Government of West Nusa Tenggara worth Rp. 750 billion in order to realize the acceleration of economic recovery in each province. The signing of this regional PEN loan agreement was carried out in a circular manner through online media by the President Director of PT SMI – Edwin Syahruzad, together with the Governor of East Nusa Tenggara – Viktor Bungtilu Laiskodat and the Governor of West Nusa Tenggara – Zulkieflimansyah, on Friday (13/8) and witnessed by the Director of Financing. and PT SMI Investment – ​​Sylvi J. Gani.

The proposed PEN loan from the East Nusa Tenggara and West Nusa Tenggara Provincial Governments to PT SMI is intended to meet the needs of regional infrastructure development as the Regional Revenue and Expenditure Budgets ("APBD") of each province must be reallocated due to the pandemic. The APBD reallocation is carried out in order to continue to support the development of priority sectors of the Provincial Government, such as the handling and development of the road infrastructure sector, bridges, Drinking Water Supply System (SPAM), reservoirs, and health infrastructure.

Previously, PT SMI together with the Directorate General of Fiscal Balance (“DJPK”) of the Ministry of Finance (“Kemenkeu”) and the Ministry of Home Affairs (“Kemendagri”) of the Republic of Indonesia had conducted a joint evaluation, and considered several risk factors for the proposals submitted by each each provincial government. The approved loan is then distributed to the Provincial Government by PT SMI as the Ministry of Finance's Special Mission Vehicle (“SMV”) by applying the principles of transparency and accountability.

President Director of PT SMI, Edwin Syahruzad, in his speech stated, "The signing of this PEN loan agreement is a form of responsiveness and support from the Government, in this case the Ministry of Finance, for the impact of the Covid-19 pandemic which has greatly affected the regional economy. PT SMI as a Special Mission Vehicle (SMV) under the coordination of the Ministry of Finance, which plays a role in distributing the Regional PEN loan facility will continue to make its best efforts, and always monitor the distribution of PEN loan funds in order to achieve the expected goals optimally, so as to be able to provide high social and economic benefits for the people in the Provinces of NTT and NTB”.

The two provincial governments appreciate the loan approval provided by PT SMI. Regional PEN loan support will be used optimally to continue pending infrastructure development. The PEN program itself was launched as a stimulus to drive national economic growth. PT SMI hopes that, by always applying the principles of Good Corporate Governance, transparency, and accountability in its implementation, the support for this Regional PEN loan facility will be able to revive the wheels of the economy in East Nusa Tenggara Province and West Nusa Tenggara Province.

 

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About PT Sarana Multi Infrastruktur (Persero)

PT Sarana Multi Infrastruktur (Persero) (“PT SMI”) which was established on February 26, 2009 is a State-Owned Enterprise under the coordination of the Ministry of Finance in the form of a Non-Bank Financial Institution (LKBB). PT SMI plays a role and has a mandate as a catalyst for accelerating national development.

PT SMI has various functions and unique products/features to support the acceleration of infrastructure development which not only functions as infrastructure financing but also as an enabler through the implementation of the Government and Business Entity Cooperation (PPP) scheme which includes various financial institutions, both private and multilateral. PT SMI actively supports the implementation of PPPs and encourages the acceleration of infrastructure development in the regions through regional loan products.

PT SMI has three business pillars, namely (1) Financing and Investment, namely financing for infrastructure projects, (2) Consulting Services, namely solutions to the needs of professionals and experts in infrastructure and (3) Project Development, namely helping the Persons in Charge of Cooperation Projects (PJPK) to prepare infrastructure projects.

 

Further information,

Ramona Harimurti
Head of Corporate Secretary

Dian Rufal
Head of Communications

PT Sarana Multi Infrastruktur (Persero)
Tel: +6221 8082 5288
Fax.: +6221 8082 5258
Email: corporatesecretary@ptsmi.co.id
www.ptsmi.co.id

 

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