Economic Minister Urges BRI to Establish Bullion Bank for SME Growth
JAKARTA, investortrust.id – Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto stated that PT Bank Rakyat Indonesia Tbk, or BRI, still has a crucial task ahead—establishing a bullion bank to provide financial services based on precious metals.
“Going forward, BRI still has a major task related to the establishment of a bullion bank,” Airlangga said at the BRI Microfinance Outlook event held at ICE BSD, Tangerang, Banten, on Thursday, Jan 30, 2025.
Gold Deposits to Strengthen SME Hedging
Airlangga expressed hope that once the bullion bank is established, micro, small, and medium enterprises (SMEs) would be able to shift their deposits into gold deposits, strengthening hedging mechanisms for export-oriented SMEs.
He emphasized that gold prices consistently appreciate compared to other assets, making it a reliable safe-haven investment that could bolster SME growth.
“The Coordinating Ministry will ask BRI to continue fostering the top 20 SMEs in collaboration with the Ministry of SMEs so that they can graduate to a higher business level,” he said.
Government’s Push for SME Upgrading
The minister further stated that the government aims to elevate at least 20 SMEs each year from small businesses to robust mid-sized enterprises.
As part of its commitment to SME development, the government has introduced initiatives such as debt forgiveness and targeted loan write-offs. Additionally, investment credit programs have been rolled out for labor-intensive sectors, including textiles and garments, footwear, food and beverages, and furniture, provided they meet specific employment criteria.
To support these sectors, the government is offering an interest rate subsidy of 5% on loans. “This presents an opportunity for SMEs to expand their production capacity for exports,” Airlangga added.
BRI’s Commitment to SME Financing
Meanwhile, BRI’s President Director Sunarso reaffirmed the bank’s dedication to supporting SMEs through financing and capacity-building initiatives.
“This commitment is reflected in our loan disbursement to SMEs, which totals Rp 1,106 trillion [$72 billion], accounting for 82% of BRI’s total lending,” Sunarso stated at the official opening ceremony of BRI UMKM Expo(RT) 2025 at ICE BSD City.
BRI has also integrated ultra-micro financing through its ultra-micro holding entity, expanding financial access to 50 million SME borrowers, including 36 million ultra-micro entrepreneurs.
However, Sunarso highlighted that financial empowerment goes beyond lending. “Research from the BRI Institute shows that SME development requires not just credit access but also mentoring and financial literacy programs to encourage savings habits,” he concluded.