JAKARTA (TheInsiderStories) – Indonesia’s financing agency, PT Sarana Multigriya Finansial (SMF) needs funding of Rp9 trillion (US$638.30 million) in 2019 to finance four projects. Last year, the state-enterprises’ funding amounted of Rp6.4 trillion.
SMF’ director Heliantopo said on Monday (01/22), the company will fulfill the funds through several instruments, such as bond, medium term notes, and loans.
While, the president director Ananta Wiyogo explained, this year, SMF targeting to finance the development 350 units home stay in four tourist destination areas namely Borobudur in Central Java, Labuan Bajo in East Nusa Tenggara, Mandalika in Lombok, and Lake Toba in North Sumatera.
Second program is the construction of houses in 32 slum Areas around the archipelago. SMF will synergise with the Ministry of Public Works and Public Housing to participate in overcoming slums through renovation or construction of houses.
Another program, which will also be launched by SMF in 2019, is the Post-Disaster Mortgage Program. The program will helps the Government to revitalizing community settlements after natural disasters in Indonesia.
He continued, SMF will work with national banks to channel financing to homes affected by the disaster. For the initial phase, this program will be for 3,000 State civil apparatus affected by natural disasters in Lombok, West Nusa Tenggara.
“SMF will collaborate with Bank NTB Syariah as a post-disaster mortgage lending agency,” said Wiyogo.
In addition, SMF also has a Fiscal Load Reduction Program. This is realized through the provision of support to the Government in the House Finance Liquidity Facility mortgage program.
With the support of SMF, the number of houses to be financed increased from the original 60,000 units to 72,000 units. This has a positive impact to facilitate mortgage for low income communities.
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