Collaboration Between the Government and Financial Institutions Strengthens Economic Equality
By: Arsenio Bagas Pamungkas
Economic equality remains a key focus in national development policies. The government, together with financial institutions, aims to strengthen the micro, small, and medium enterprises (MSMEs) sector as the backbone of the economy. This is done through improved access to financing, business assistance, and digital integration to ensure MSMEs can level up and contribute more to economic growth.
The Ultra Micro (UMi) Holding, which consists of PT Bank Rakyat Indonesia (Persero) Tbk (BRI), PT Permodalan Nasional Madani (Persero) (PNM), and PT Pegadaian, has shown a strategic role in realizing this goal. By December 2024, the synergy of these three entities successfully upgraded the status of 1.84 million ultra-micro customers, who previously depended on financing from PNM and Pegadaian, to become commercial customers of BRI. This change in status is a tangible indicator that access to formal financial services is expanding, and MSMEs are increasingly ready to grow independently.
Additionally, the UMi Holding added three million new debtors, bringing the total number of debtors served to more than 34 million people. With an expanded service reach, more business owners gained access to capital and sustainable business assistance.
BRI President Director Sunarso emphasized that the success of UMi Holding is inseparable from the synergy strategy among the entities that has been continuously strengthened since the first year of its establishment. Each institution within the UMi Holding carries out its specific role according to its strengths, ensuring that the empowerment of the ultra-micro segment can proceed more effectively and systematically.
One of the innovations introduced in this synergy is the BRIGADE MADANI program, which accelerates the integration of resources between BRI, Pegadaian, and PNM. This concept is implemented in the form of Ultra Micro Service Centers (SenyuM) Co-Location, which reached 1,032 offices by the end of 2024. The existence of SenyuM makes it easier for business owners to access various financial services in one location, speeding up service processes and increasing operational efficiency.
BRI also reported that the synergy of UMi Holding is supported by a combination of conventional, hybrid, and digital networks, covering more than 16 thousand work units, 400 thousand AgenBRILink Mekaar, and digital services such as BRImo and SenyuM Mobile. AgenBRILink Mekaar plays a key role as a bridge for MSMEs that still have limited access to formal financial services.
The success of UMi Holding aligns with the vision of President Prabowo Subianto and Vice President Gibran Rakabuming Raka. In the third Asta Cita, the government is committed to creating quality jobs and promoting entrepreneurship. Meanwhile, the sixth Asta Cita targets economic equality and poverty alleviation. By expanding access to financing and empowering MSMEs, UMi Holding directly contributes to achieving these visions.
In addition to the banking sector, other institutions are also actively supporting MSME empowerment, such as Customs and Excise, which has formed strategic partnerships with various parties to strengthen MSMEs’ competitiveness in both domestic and export markets. Customs and Excise in Ternate has worked with Bank Indonesia in North Maluku Province to develop MSMEs through an Export Clinic and the Export Purpose Import Facility (KITE) for small and medium industries (IKM). This partnership includes data exchange and business assistance, aimed at increasing MSMEs’ readiness to face global markets.
In other regions, Customs and Excise in Tanjung Balai Karimun has partnered with Bank Syariah Indonesia (BSI) to develop cooperatives and MSME groups. This initiative is part of a long-term strategy to enhance the productivity of small businesses through an inclusive approach.
In addition to direct financing access, MSME sustainability is also supported by credit guarantees that ensure smooth business capital. PT Jamkrindo, as one of the guarantee institutions, has recorded a guarantee realization of IDR 300 trillion by the end of 2024. With a guarantee capacity of more than IDR 200 trillion still available, more MSMEs can access capital with more measurable risks.
According to Wahyu Hidayatullah, Head of Jamkrindo’s Business Division, this increased guarantee scheme aims to maintain credit stability and ensure the continuity of MSME businesses. With broader credit guarantees, banks and financial institutions can more confidently channel capital to MSMEs with promising business prospects.
Support for MSMEs also comes from the cooperative sector. The Indonesian Women’s Entrepreneurs Cooperative Federation (INKOWAPI) has established Sahabat Usaha Rakyat (Sahara) groups in each village as a strategy to channel business capital in the form of merchandise. This approach is seen as effective in maintaining price stability and reducing inflationary pressures, which ultimately positively impacts people’s purchasing power.
Collaboration between the government, financial institutions, and business communities continues to be strengthened to ensure that MSMEs can develop sustainably. Synergy in the form of financing access, human resource development, and digital technology adoption has had a positive impact on national economic growth.
The success of various MSME empowerment programs proves that financial inclusion is not just rhetoric, but a reality that is becoming more tangible. With the strategic steps that have been implemented, economic equality in Indonesia is getting closer to being realized.
Continuous support from various parties will ensure that MSMEs remain competitive, contribute significantly to national economic growth, and bring Indonesia closer to the vision of Indonesia Emas 2045.
)* The author is a contributor to the Persada Institute
