Collaboration between Government and Financial Institutions Strengthens Economic Equality
By: Arsenio Bagas Pamungkas
Economic equality continues to be the main focus of national development policies. The government together with financial institutions are trying to strengthen the micro, small, and medium enterprises (MSMEs) sector as the backbone of the economy. This step is taken by increasing access to financing, business assistance, and digital integration to ensure that MSMEs can move up a class and contribute more to economic growth.
The Ultra Micro Holding (UMi), which consists of PT Bank Rakyat Indonesia (Persero) Tbk (BRI), PT Permodalan Nasional Madani (Persero) (PNM), and PT Pegadaian, has shown a strategic role in realizing this. Until December 2024, the synergy of the three entities has succeeded in increasing the status of 1.84 million ultra micro customers who previously depended on financing from PNM and Pegadaian to BRI commercial customers. This change in status is a real indicator that formal financial access is getting wider and MSMEs are increasingly ready to grow independently.
In addition, UMi Holding also added three million new debtors, so that the total debtors served increased to more than 34 million people. With the expansion of service coverage, more business actors gain access to capital and sustainable assistance.
BRI President Director, Sunarso, emphasized that the success of UMi Holding cannot be separated from the synergy strategy between entities that has continued to be strengthened since the first year of its formation. Each institution in UMi Holding carries out a specific role according to their strengths, so that the empowerment of the ultra-micro segment can run more effectively and in a structured manner.
One of the innovations presented in this synergy is the BRIGADE MADANI program, which accelerates the integration of resources between BRI, Pegadaian, and PNM. This concept is realized in the form of the Ultra Micro Service Center (SenyuM) Co-Location, which has reached 1,032 offices by the end of 2024. The existence of SenyuM makes it easier for business actors to access various financial services in one location, accelerates the service process, and increases operational efficiency.
BRI also noted that the UMi Holding synergy is supported by a combination of conventional, hybrid, and digital networks covering more than 16 thousand work units, 400 thousand Mekaar BRILink Agents, and digital services such as BRImo and SenyuM Mobile. Mekaar BRILink Agents act as the main liaison for MSMEs that still have limited access to formal financial services.
The success of UMi Holding is in line with the vision of the government of President Prabowo Subianto and Vice President Gibran Rakabuming Raka. In the third Asta Cita, the government is committed to creating quality jobs and encouraging entrepreneurship. Meanwhile, the sixth Asta Cita targets economic equality and poverty alleviation. By expanding access to financing and empowering MSMEs, UMi Holding contributes directly to achieving this vision.
In addition to the banking sector, other agencies are also actively supporting MSME empowerment, namely Customs and Excise, establishing strategic partnerships with various parties to strengthen the competitiveness of MSMEs in the domestic and export markets. Ternate Customs and Excise collaborates with Bank Indonesia, North Maluku Province in fostering MSMEs through the Export Clinic and the Export Import Facility (KITE) for small and medium industries (IKM). This partnership includes data exchange and business assistance, which aims to improve the readiness of MSMEs in facing the global market.
In another region, Tanjung Balai Karimun Customs and Excise collaborates with Bank Syariah Indonesia (BSI) to develop cooperatives and fostered MSME groups. This step is part of a long-term strategy to increase the productivity of the small business sector through an inclusive approach.
In addition to direct financing access, the sustainability of MSMEs is also supported by credit guarantees that ensure the smooth flow of business capital. PT Jamkrindo as one of the guarantee institutions has recorded a guarantee realization of IDR 300 trillion by the end of 2024. With a guarantee capacity that is still open of more than IDR 200 trillion, more and more MSMEs can gain access to capital with more measurable risks.
According to Jamkrindo’s Head of Business Division, Wahyu Hidayatullah, the increase in the guarantee scheme aims to maintain credit stability and ensure the sustainability of MSMEs’ businesses. With broader credit guarantees, banks and financial institutions can be more confident in channeling capital to MSMEs that have promising business prospects.
