SMF allocates Rp6.68 trillion in 2025 State Capital Injection for FLPP

Jakarta (ANTARA) - PT Sarana Multigembriya Finansial (Persero), known as SMF, has reported that the 2025 State Capital Injection (PMN) amounting to Rp6.68 trillion has been fully distributed to support the Housing Finance Liquidity Facility (FLPP) programme for low-income communities (MBR).

SMF President Director Ananta Wiyogo stated that the PMN received by the company in 2025 is specifically allocated for the FLPP programme and is not intended for the company’s commercial activities. “The PMN we received in 2025 is Rp6.68 trillion, and as of 31 December 2025, it has been fully distributed to the lending banks in need of these funds,” Ananta said during a hearing with Commission XI of the Indonesian House of Representatives (DPR RI) in Jakarta on Monday.

Ananta noted that SMF’s funding requirement for the FLPP programme in 2025 reached Rp8.03 trillion. Consequently, in addition to the PMN, the company raised Rp1.35 trillion through the issuance of debt securities to cover the funding gap.

With the support of the PMN and additional funding, the 2025 FLPP programme is targeted to support the financing of approximately 194,612 housing units for low-income communities. He explained that from 2018 to 2025, SMF has received PMN totalling Rp17.91 trillion and issued debt securities worth Rp16.64 trillion. Under this scheme, the total funds mobilised reached Rp34.37 trillion, which has resulted in the production of approximately 904,000 housing units.

He added that the 2025 PMN funds have been distributed to 12 FLPP mortgage lending banks, with the largest portion received by PT Bank Tabungan Negara (Persero) Tbk at Rp5.25 trillion, followed by Bank Syariah Nasional (BSN Syariah), Bank BJB, BJB Syariah, Bank Sumsel Babel Syariah, and Bank DKI.

According to Ananta, the distribution of PMN through FLPP benefits the public by expanding access to subsidised housing finance, while simultaneously supporting the government’s three-million-house construction programme. “For the government, it supports the three-million-house programme and encourages the real sector through the multiplier effect of house construction,” he said.