SMF finances 904,568 housing units through the Home Mortgage Liquidity Facility (KPR FLPP) scheme
Jakarta — Indonesia’s fiscal tool, PT Sarana Multigriya Finansial (Persero) or SMF, demonstrates its role in supporting national housing finance. Through the Home Mortgage Financing Liquidity Facility (KPR FLPP) scheme, the state-owned company has channelled financing to 904,568 housing units through December 2025.
Total disbursements for the programme reached Rp 34.37 trillion. The funds are the result of optimising State Capital Participation (PMN), managed through a blended financing scheme and leveraged via debt issuance.
SMF President Director Ananta Wiyogo said this step is part of the company’s role as Special Mission Vehicle (SMV) for the Ministry of Finance in strengthening the sustainability of national housing financing. It is a form of responsibility to support access and affordability of housing finance in a sustainable manner.
“As the Government’s fiscal tool, SMF ensures that every PMN received can be utilised optimally through a prudent and measured leveraging scheme,” Ananta said at the 2025 Performance Press Conference in Jakarta on Wednesday, 4 March 2026.
SMF accounts for 25 percent of financing in the KPR FLPP programme run by the Government through the Ministry of Housing and Settlements. Funding from PMN is then optimised through leveraging of 1.9 times via bond issuance valued at Rp 17.94 trillion, expanding housing finance capacity for Low-Income Communities (MBR).
Total funds channelled by SMF to housing finance distributors amounted to Rp 20.88 trillion, up from Rp 17.01 trillion in the previous year.
On the funding side, the company secured an international BBB rating and became the first corporation whose bonds can be used as underlying instruments for Bank Indonesia repo transactions. SMF raised funding of Rp 10.6 trillion as of 31 December 2025.
The company also earned trust from international and domestic rating agencies, including BBB from S&P Global, id(AAA) from Pefindo, and AAA(idn) from Fitch Ratings.
“The ratings reflect SMF’s willingness and ability to meet financial obligations on time, while demonstrating strong Government support for SMF as a fiscal tool in the housing finance sector,” Ananta said.