The Minister of Finance recently announced that IDR 2 trillion in special financing will be prepared to support the domestic textile and furniture industries, with funds disbursed through the Indonesian Export Financing Institution (LPEI). Previously, textile and furniture companies had applied for IDR 16 trillion in funding needs, but the government only had IDR 200 billion available at that time. Now, the government has increased the funding size to IDR 2 trillion.
He stated at a Ministry of Finance press conference that the lending rate for these two industries is set at 6%, and applications can now be submitted to LPEI. However, this financing is only available for export-oriented companies. He explained that LPEI's positioning is to support export-oriented enterprises, while 80% of the companies that previously expressed needs to the government are primarily domestic market-oriented, and LPEI's financing support mechanism for such companies is still unclear.
The Minister of Finance recently announced that IDR 2 trillion in special financing will be prepared to support the domestic textile and furniture industries, with funds disbursed through the Indonesian Export Financing Institution (LPEI). Previously, textile and furniture companies had applied for IDR 16 trillion in funding needs, but the government only had IDR 200 billion available at that time. Now, the government has increased the funding size to IDR 2 trillion.
He stated at a Ministry of Finance press conference that the lending rate for these two industries is set at 6%, and applications can now be submitted to LPEI. However, this financing is only available for export-oriented companies. He explained that LPEI's positioning is to support export-oriented enterprises, while 80% of the companies that previously expressed needs to the government are primarily domestic market-oriented, and LPEI's financing support mechanism for such companies is still unclear.