Jakarta (ANTARA) - Finance Minister Purbaya Yudhi Sadewa announced the disbursement of Rp200 trillion (around US$12.2 billion) in government funds to five state-owned banks under the Association of State-Owned Banks (Himbara) on Friday afternoon.
“Yesterday, I promised to inject Rp200 trillion into the banking sector. This has been approved, and the funds were distributed this afternoon,” Minister Sadewa stated during a press conference at the Coordinating Ministry for Economic Affairs in Jakarta on Friday.
The five recipient banks are Bank Rakyat Indonesia (BRI), Bank Negara Indonesia (BNI), and Bank Mandiri, each receiving Rp55 trillion. Meanwhile, Bank Tabungan Negara (BTN) received Rp25 trillion, and Bank Syariah Indonesia (BSI) received Rp10 trillion.
Sadewa explained that BSI received a smaller allocation due to its relatively smaller scale but was included because it is the only bank with financing access in Aceh. “This ensures the funds can also benefit the people in Aceh,” he added.
The funds were placed in conventional and syariah on-call deposits without an auction mechanism. Sadewa emphasized that no tenors were set, allowing banks flexible access to liquidity.
“Government funds are usually kept in Bank Indonesia, which banks cannot access. By shifting part of it, banks can support the economy even if government spending is delayed,” he explained.
The return rate is set at 80.476 percent of the BI Rate. He stressed that the funds must not be used to purchase government bonds but should instead be directed toward the real sector.
Sadewa expressed confidence that the banks will channel the funds into productive uses.
“If banks do not use the funds, they bear a 4-percent cost, so they will think hard to utilize them,” he noted.
He voiced optimism that the Rp200 trillion liquidity injection will boost national economic growth.
