BTN Provides Rp 1.5 Trillion Financing to Pindad for Maung MV3 Production

PT Bank Tabungan Negara (Persero) Tbk (BBTN) has provided a financing facility worth Rp1.5 trillion to PT Pindad to support the implementation of various national strategic projects in the defence sector. BTN Managing Director Nixon LP Napitupulu stated that the financing support is part of the bank’s commitment to strengthening the national defence industry amid growing global geopolitical uncertainties. He added that strengthening the domestic defence industry is a strategic necessity to safeguard national sovereignty and resilience. ‘We hope this BTN support will enhance Pindad’s production capacity, not only strengthening national defence but also creating a multiplier effect across steel, metal, electronics, manufacturing, and logistics industries while absorbing thousands of national workers,’ Nixon said in a statement on Sunday, 31 May 2026. To support Pindad’s various strategic projects, BTN has provided a Corporate Loan Facility totalling Rp1.5 trillion. The facility includes a Cash Loan or Contractor Working Capital Credit (KMK) of Rp125 billion, as well as Non-Cash Loan facilities such as Bank Guarantees, Domestic Documentary Credit (SKBDN), and Letters of Credit (LC) with a Trust Receipt sub-limit of Rp1.375 trillion. Initial funding will be focused on supporting several of Pindad’s flagship national programmes. The programmes include the production of the Maung MV3 operational vehicle, currently used as government officials’ official transport, various types of ammunition to support national defence readiness, and Water Canon vehicles for public security and order. Pindad has long played a pivotal role in the national defence industry ecosystem through the production of tactical vehicles, combat vehicles, ammunition, weapons, and specialised equipment used by the TNI and Polri. As a bank traditionally known as a major player in housing finance, BTN is now expanding its role into various strategic sectors prioritised in national development. Through this strategy, BTN is not only focusing on public housing finance but also strengthening financing support for sectors deemed strategically impactful on the national economy. Nixon believes the banking sector plays a crucial role in ensuring national strategic projects meet their targets.