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.