Tuesday, 12 November 2019 | 06:20 WIB

President Jokowi Asks National Banks to Increase Contribution to MSME

President Jokowi Asks National Banks to Increase Contribution to MSME (ukm)

JAKARTA, NETRALNEWS.COM - Indonesia President Joko 'Jokowi' Widodo has called on national banks to pay special attention to improving services and public financial inclusion. One of them is by connecting with people at remote areas, while at the same time providing wider access on credit financing for micro, small and medium enterprises (MSME).

This was conveyed by the President at a speech in the opening of the Indonesia Banking Expo 2019 held by the National Bank Association (Perbanas), in Jakarta on Thursday (11/07/019).

"I invite all of us to pay attention to support financial inclusion and literacy in increasing public access to small business and micro business credit, while at the same time improving the level of liquidity in Indonesia," he said, as quoted from Antara.

The President said that amid a slowdown in the global economy, the MSME sector is strived to spearhead in boosting regional and national economies while reducing economic disparities between layers of society.

For this reason, President Jokowi invited national banks to contribute to efforts on improving the class of MSMEs. The President hopes that the micro entrepreneurs can immediately move up to small businesses level, and then move on to the medium level. and so on.

"For this reason, I invite all of you, ladies and gentlemen, not just to fund the big projects," said the President.

Furthermore, the President also asked bank leaders, both state-owned and private banks, to occasionally communicate with regional heads and administrations. According to him, in that way, banks will find out that there are many things they can do to make the regional economy and its people become much better.

There are around 60 million MSMEs in Indonesia. Going forward, the Head of State hopes that more national banks will provide services to tens of millions of MSME businesses.

On the occasion, the Head of State also reminded national banks to prepare themselves to face global competition, especially in the current digitalization era. He is of the view that currently national banks must be willing to collaborate with each other and with other stakeholders.

"We must continue to build and strengthen the payment and digital systems. Banks and non-banks must also collaborate, and not just work alone," the President said.