Which Bank Has the Best Chance to Become the Anchor Bank?
President Joko Widodo (Jokowi) approved the plan to implement government-backed funding for banks facilitating debt restructuring or providing more working capital loans to increase their liquidities. However, the government planned to disburse it through anchor banks.
The provisions for the funding appear in Government Regulation (PP) No. 23/2020 on the implementation of the national economic recovery (PEN) program to support policies on the state finance to mitigate Covid-19 Pandemic and other threats endangering the national economy or financial system stability and to save the country’s economy. Jokowi signed the government regulation on PEN on Saturday (5/9) and came into effect on Monday (5/11).