Further Details of Government Investment under PEN Program Introduced

Regulation of the Government No. 23 of 2020 , which was amended through the issuance of Regulation of the Government No. 43 of 2020 (collectively referred to as “ Regulation 23/2020 ”), [1] states that the government may allocate funding in certain amounts and/or financial assets for investment purposes. [2] Investment may be provided in the form of loans to state-owned enterprises (badan usaha milik negara– “ BUMN ”) and/or non-BUMN business agencies (“ Agencies ”) which are established based on laws. [3]