SMF Has Disbursed IDR 6.68 Trillion in 2025 State Capital Injection for FLPP

PT Sarana Multigrip Finansial (SMF) has announced that the allocation of State Capital Injection (PMN) funds for 2025 is being utilised for the Housing Finance Liquidity Facility (FLPP) programme to support the government’s 3-million-house initiative.

SMF President Director Ananta Wiyogo stated that the received PMN funds amount to IDR 6.68 trillion. He revealed that this PMN allocation has been fully distributed to lending banks in need by the end of 2025.

He continued by explaining that in implementing the FLPP programme, SMF also utilised IDR 1.35 trillion from debt securities issuances, as the total funding required for the programme amounted to IDR 8.03 trillion. “The PMN received by SMF is usually insufficient, so we have to supplement it with debt securities,” he stated during a meeting with Commission XI at the DPR RI building in Jakarta on Monday (8/6/2025).

He further explained that for the FLPP programme from 2018 to the present, SMF has received IDR 17.91 trillion from PMN injections. However, SMF has also issued IDR 16.64 trillion in debt securities, bringing the total funding for the FLPP programme to IDR 34.37 trillion. This represents a 25% portion and has resulted in the production of approximately 904,000 housing units.

He emphasised that the PMN funds distributed for FLPP mortgages are highly beneficial for the community in meeting housing needs. “For the government, it also serves as a long-term balancer for mortgage lenders to reduce time mismatch risks, supports the government’s 3-million-house programme, and encourages the movement of the real sector through the multiplier effect of house construction,” he concluded.