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Bank Indonesia improves MSME` access to financial services

Manado (ANTARA News) – Bank Indonesia plans to increase local micro, small and medium enterprises access to the financial services industry.

“One of the efforts aimed at encouraging the development of MSMEs is to increase their capacity, and improve their access to financial services,” Head of BI Office in North Sulawesi Province, Soekowardojo, said here on Friday.

If MSMEs have access to financial services, they will continue to grow, he stressed.

“In principle, financial services are inseparable from the business world. However, (banks) must exercise caution in channeling credits,” he underlined.

He assured that he will always encourage banks to increase the amount of loans channeled to the real sector.

In addition, the central bank will also help MSMEs find regional and international markets, minimize information disparities and increase coordination and cooperation with stakeholders, he observed.

“As we all know, MSME is one of the sectors that can encourage the national economy. In total, MSMEs make up 99.9 percent of the total business units. They contribute up to 57 percent of the gross domestic product,” he explained.

The MSMEs can also become a highly competitive sector that can even resist foreign and domestic upheavals, he pointed out.

The MSMEs also play a bigger role in creating jobs, and currently account for 97.2 percent of the total jobs.

(Reported by Nancy Lynda Tigauw/INE/KR-BSR/B003)