Finance Minister Purbaya Seeks DPR Support to Take PNM from Danantara

Finance Minister Purbaya Yudhi Sadewa has proposed to the Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara Indonesia) to take over the management of PT Permodalan Nasional Madani (PNM). He has also requested support from the DPR’s Commission XI for this plan. PNM is a subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk, which is now a member of Danantara Indonesia. “I am proposing to Danantara to give PNM to us. PNM Madani to us, then we will make PNM the distributor of People’s Business Credit,” said Purbaya Yudhi Sadewa in Jakarta on Monday, 7 April 2026, as reported by Antara. He stated that his side plans to make PNM a subsidiary of one of the Ministry of Finance’s Special Mission Vehicles (SMVs), such as PT Sarana Multi Infrastruktur (SMI) or the Government Investment Centre (PIP). He revealed that the PNM acquisition plan was submitted as one solution to streamline KUR distribution. According to Purbaya, there are many reports from MSME actors who have difficulty accessing these low-cost credit services. In addition, he highlighted the high costs involved in KUR distribution through banks. “If KUR goes through banks, we pay interest up to 18 percent. The money disappears (is used to pay interest), around Rp40 trillion every year,” said Purbaya. If KUR is distributed through PNM as a subsidiary of one of the Ministry of Finance’s SMVs, the Rp40 trillion funds could be used as capital to transform the SOE into an MSME bank. Purbaya hopes to turn PNM into a major bank with Rp200 trillion in capital within five years. In addition to a specialised bank, Purbaya said his side will also build an integrated MSME development ecosystem equipped with advisory teams, marketing teams, training facilities, and credit guarantee institutions. He mentioned that the proposal has also been conveyed to President Prabowo Subianto and received signals of support. Nevertheless, his side will continue to refine the plan and discuss with Danantara to find the best path. “If supported by Commission XI, we will execute it,” said Purbaya. However, he added, if Danantara commits to building its own integrated MSME development ecosystem as outlined, the Ministry of Finance will not take over PNM.