Will the Government Increase PEN Budget for Regional Banks?

By Editorial Team 27/11/2020
Dollar covid
Summary

Eleven regional development banks (BPDs) are interested in and have applied for National Economic Recovery (PEN) fund placement. The chairman of the Regional Bank Association (Asbanda), Supriyatno, revealed that their requests could reach Rp 5.1 trillion in total.

"The previous PEN fund placement for BPD has prompted other regional development banks to apply to it," Supriyatno stated in a meeting with Commission XI, Wednesday (11/25). Supriyatno also explained that the interest was due to the funds’ low deposit interest rate at around 2.80-2.85 percent. However, it allows regional banks to reduce the cost of funds and credit interest rates.

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