ILUNI MMUI CEO TALKS, New Normal: “Stimulus for Economic Recovery and the Future of MSMEs”


ILUNI MMUI CEO TALKS, New Normal: “Stimulus for Economic Recovery and the Future of MSMEs”

Hana Fajria – FEB UI Public Relations Officer

DEPOK, 29/07/2020 – The Alumni Association of the Master’s Degree Program in Management, Faculty of Economics and Business, Universitas Indonesia (ILUNI MM UI), held the CEO Talks webinar taking “New Normal: Stimulus for Economic Recovery and the Future of MSMEs” as its theme. Speakers at the event were Amin Mas’udi, Business Director of PT. Jamkrindo, and Krisdianto, Business Director of the Revolving Fund Management Agency (Lembaga Pengelola Dana Bergulir, LPDPB), with Ir. Nanang E Raswandi, MM, MBB, founder and Senior Consultant, BpXcellence Consulting, as moderator.

Arief Wibowo, Head of Iluni MM, opened the webinar, followed by a keynote speech by Hanung Harimba, Deputy for Finance, Minister of Cooperatives and SMEs. “The main problems faced by MSMEs are marketing and decreasing demand and limited raw materials. Therefore, the government pays special attention to MSMEs through several programs to support economic recovery, including programs on the supply side and grants for MSMEs because they are deemed crucial to encourage MSMEs to resume their business. This seminar can contribute ideas and thoughts that can be used as a formula to develop new policies,” Hanung said.

More than 50% of MSMEs have not been able to survive and another 43% are expected to stop operations in the next few months due to pressure on business players, especially MSMEs, from both the supply and demand sides that are still not synchronized. The strategic goal of the Ministry of Cooperatives and SMEs is to focus on real sector medium enterprises through synergy among stakeholders. There are three phases in the government’s strategy through LPDB-KUMKM to support national economic recovery. The first is the induction phase to restructure business partners. The second is the recovery phase through the distribution of cheap loans and the third is the growth phase through policy relaxation.

The government’s stimulus program became effective with the realization of Rp1 trillion of National Economic Recovery (PEN) fund for approximately 266 healthy cooperatives. Among the strategies and measures that should be adopted to ensure that the stimulus is right on target and effective are selecting the cooperatives  that merit the aid, improving business processes, expanding services, and empowering human resources. One indicator of successful MSME development is the number of MSMEs that grow into large enterprises.

Meanwhile, Amin Mas’udi said that LPDB-KUMKM is a work unit at the Ministry of Cooperatives and SMEs that manages revolving funds to strengthen the capital of cooperatives and MSMEs as cooperative members. The goal is to help strengthen the capital of cooperatives and MSMEs through cooperatives. To manage credit risks, Jamkrindo uses j-score analysis. In addition to guarantees, Jamkrindo has the platform to help MSMEs access financing.

Jamkrindo’s appointment as guarantor of  the working capital loan for MSMEs affected by Covid-19 is based on PMK Number 304/KMK.08/2020. Jamkrindo is tasked with providing credit facilities in the form of additional working capital or new working capital, with a maximum guarantee coverage of 80%, and special Terms and Conditions for national economic recovery (PEN) guarantee as well as guarantee fees allocated by the government.

The speakers closed the seminar by saying that LPDB as a representative of the government will support MSMEs that do not have capital or collateral to continue their business. When there’s a will there’s a way, and Jamkrindo is always ready to help so that Indonesia’s economy can continue to grow. They hope that they can continue to exchange thoughts to find new ideas to ensure economic recovery. (hjtp)