Bank Mandiri directs utilisation of SAL funds to SMEs and strategic sectors
Jakarta (ANTARA) - PT Bank Mandiri (Persero) Tbk is directing the utilisation of excess budget balance (SAL) funds from the government as credit to the SME segment, labour-intensive industries, and other strategic sectors.
Bank Mandiri’s Corporate Banking Director, Mochamad Rizaldi, detailed that these strategic sectors include plantations and food security, downstreaming of natural resources and renewable energy, healthcare services, manufacturing, as well as priority sectors that have a multiplier effect on the economy.
“We hope that Bank Mandiri will continue to drive national economic growth by strengthening export competitiveness as well as expanding job creation and sustainable economic activities,” Rizaldi said during an online press conference in Jakarta on Tuesday.
Rizaldi stated that the government’s fund placement originating from SAL is fundamentally part of joint efforts to maintain the effectiveness of liquidity transmission in the financial system to support the acceleration of economic recovery and growth.
He assured that the funds are managed by the company in a prudent and productive manner, while still adhering to applicable regulations and the bank’s liquidity needs.
“In line with the purpose of the government fund placement, these funds are focused on supporting credit disbursement and maintaining smooth banking intermediation,” Rizaldi said.
Previously, the government had initially placed SAL funds amounting to Rp200 trillion in the banking sector.
With the latest addition of Rp100 trillion, the total SAL fund placement now reaches approximately Rp300 trillion.
Finance Minister Purbaya Yudhi Sadewa stated that the additional Rp100 trillion SAL is provided under a more flexible scheme.
According to Purbaya, the Rp300 trillion SAL placement in the banking sector works to stimulate the economy through the invisible hand mechanism.
In other words, this government fund injection encourages banks to optimise their intermediation function, thereby accelerating economic activities.
“My policy forces the invisible hand to function in the financial sector, so banks will select good projects and make the economy move,” Purbaya said.