BRI Microfinance Outlook 2024: President Jokowi Commends BRI’s Commitment to Drive Economic Growth Through Financial Inclusion

JAKARTA, Indonesia, March 12, 2024 /PRNewswire/ — PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) hosted the BRI Microfinance Outlook 2024, opening on March 7th with Indonesian President Joko Widodo underscoring the pivotal role of Micro, Small, and Medium Enterprises (MSMEs) for the nation’s economy. With around 65 million MSMEs contributing 61 percent to the country’s GDP and employing 97 percent of the workforce, President Jokowi applauded BRI’s efforts in empowering MSMEs, stating, “Focusing on MSMEs is the right move, and I am pleased to hear from the BRI Director (Sunarso) that digital banking services have truly reached the grassroots level.”

Sunarso, BRI President Director, explained how banking, particularly BRI, can empower communities, especially MSMEs, by providing funding opportunities, particularly for Ultra Micro entrepreneurs who lack access to formal financial services, saying, “BRI has taken concrete actions, including establishing the Ultra Micro Holding, where BRI, along with Pengadaian and PNM, provides integrated financial services.” Sunarso added, “Thanks to President Jokowi’s support, the initiative has reached 44 million MSME credit customers and 173 million depositors.”

Additionally, BRI demonstrates its commitment to financial inclusion through AgenBRILink, facilitating transactions outside traditional branch offices or ATMs, generating economic and social value. By December 2023, AgenBRILink has expanded to 741 thousand agents, with significant public enthusiasm, especially in rural areas.

Minister of Finance Sri Mulyani emphasized MSMEs’ importance, stating, “Currently, 97% of job creation in Indonesia comes from MSMEs. However, their contribution to exports is still small, around 15%.” She added, “With synergy, we can maintain Indonesia’s economic growth at a high but inclusive level, benefiting MSMEs.”

Minister of Cooperatives and SMEs Teten Masduki addressed challenges, emphasizing the need for policy innovations. “Policy ecosystem innovations for MSMEs are needed, including optimizing supply chain credit and supporting insurance guarantees,” said Teten.

Joining President Jokowi at the event were Minister of State-Owned Enterprises Erick Thohir, Minister of Finance Sri Mulyani, Minister of Cooperatives and SMEs Teten Masduki, Minister of Trade Zulkifli Hasan, and Deputy Minister of State-Owned Enterprises Kartika Wirjoatmodjo. The annual BRI Microfinance Outlook 2024 aims to discuss MSMEs’ vital role in economic growth. Held in a seminar format with expert speakers, the event garnered appreciation for its contribution to enhancing MSME competitiveness globally.

For more information on BRI, visit www.bri.co.id .