JAKARTA. The Minister of Finance, Sri Mulyani, has loosened the terms and conditions required for corporates in Indonesia to obtain the government’s credit guarantee facility. It was decided through the revision of Regulation of Minister of Finance (lit. Peraturan Menteri Keuangan/PMK) 98/2020.

In the revised regulation, Sri Mulyani changed the criteria of the business corporates eligible for a working capital credit guarantee. Furthermore, the credit’s tenors to be guaranteed were extended.

“With these more lenient terms in the government’s guarantee scheme, we hope to be able to maintain the corporations’ financial situations while improving the real sector,” Rahayu Puspasari, the Head of Communication Bureau of Ministry of Finance, explained.

The revised ministerial regulation stated several criteria for the corporations to be approved for the government’s credit guarantee, including the corporations affected by the COVID-19 pandemic, yet showing a convincing performing loan. (KR/ZH)