JAKARTA - The government injected capital into members of the Association of State Owned Banks (Himbara) to help speed up national economic recovery. In the first stage, the government injected Rp 30 trillion.
As quoted from Setkab.go.id on Wednesday (24/6), Minister of Finance Sri Mulyani said that the placement of funds in commercial banks is regulated in the Law No.1/2004 on State Treasury, Government Regulation in lieu of Law No.1/2020, Law No.2/2020, and Government Regulation No.39/2007.
"The goal, like the President stated earlier, is to encourage the economy and the real sector to recover. This is done so that banks can continue to accelerate lending and make other efforts to help real sector to recover, "said Sri Mulyani.
According to the Minister of Finance, the funds placed by the government in those banks cannot be used for two things; it cannot be used to purchase government securities (SBN) or foreign currencies.
She said that Himbara would place the funds on deposit with the same interest rate as what was given by Bank Indonesia, which was 80% of BI's 7-Days Repo Rate. Members of Himbara, among others, are PT BNI Tbk (BBNI), PT Bank Mandiri Tbk (BMRI), PT BRI Tbk (BBRI), and PT BTN Tbk (BBTN). (LK/AR)