Cheap Credit from Purbaya for Textile-Shoe Industry: Interest Below 6%

Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has promised cheap credit for the textile, shoe, and other export-oriented manufacturing industries to renew machinery.

This cheap credit, he emphasised, will be provided by the Indonesia Export Financing Agency (LPEI) or Indonesia Eximbank, with the sectors coordinated with the Ministry of Industry.

“Those needing machinery renewal will be ensured access to lower interest rates or LPEI rates of 6% if I’m not mistaken. If necessary, we’ll lower it further,” said Purbaya in the Kebon Sirih area, Jakarta, quoted on Thursday (7/5/2026).

Purbaya claimed to have held meetings with textile industry players and textile product manufacturers for the provision of this cheap credit facility. Therefore, he is confident in offering this facility to LPEI so that machinery renewal can be carried out.

“Because it’s considered a sunset industry, it’s very difficult for them to get bank loans, that’s why I used LPEI earlier; we’ve met with textile companies or associations, and we will implement it in not too long a time,” he explained.

According to Purbaya, one indicator for the textile and shoe industries that can receive cheap credit for machinery renewal is those still having promising business prospects. If they’ve been under pressure for a long time, he certainly won’t provide the cheap credit.

“So we will ensure they get sufficient financing if they need it. But if the prospects are poor, we won’t give it,” he explained.