BI Alters Capital Scheme in MSME Development Programme, Here Are the Requirements

Bank Indonesia (BI) Governor Perry Warjiyo has announced the central bank is preparing an Integrated MSME Entrepreneurship Transformation programme to help develop micro, small, and medium enterprises. Amid rising global economic uncertainty, strengthening MSMEs supports domestic economic growth and public welfare. The Integrated MSME Entrepreneurship Transformation programme features a different approach this time.

"The increasing risk of global economic uncertainty demands Indonesia’s economic self-reliance through the creation of new entrepreneurs and enhancing MSME capacity. To have a greater impact, the best business models from BI-assisted MSMEs are selected so that business suitability is field-tested," Perry stated during the Kick Off of the Integrated MSME Entrepreneurship Transformation at the BI Head Office in Central Jakarta on Monday.

According to Perry, participants will not immediately receive capital assistance but must first undergo entrepreneurship education, certification, practical work or internships, and business evaluation. This time, MSME players are ensured to have technical readiness and business capability before starting a venture or obtaining capital support. "That is why the difference in this programme is that there will be three stages. One is entrepreneurship education, and we conduct certification," he said.

Perry further emphasised that the Integrated MSME Entrepreneurship Transformation Programme is designed to produce tangible impact through the creation of entrepreneurs capable of adding value, creating jobs, and strengthening the people’s economy. The programme is implemented on a national scale utilising the network of 46 Bank Indonesia Representative Offices in synergy with ministries and agencies, strategic stakeholders, more than 3,000 BI-assisted MSMEs, and over 1,500 empowered Islamic boarding schools.

According to Perry, entrepreneurial ability is the key to MSME advancement, built through entrepreneurship education, evaluation, and the implementation of tested business models. "Strong motivation, an unyielding spirit, and the ability to build cooperation are important foundations for MSME progress," Perry concluded.