Govt. to Provide Guarantees for Funding Activities Aimed at Economic Development and Recovery

The Indonesian President recently issued Regulation No. 103 of 2020 on Central Government Guarantees for Development Funding in Order to Support the National Economy and/or the National Economic Recovery Program (“ Regulation 103/2020 ”), in an attempt to optimize the role of financial-service institutions in relation to the provision of funding facilities for development aimed at supporting the national economy and/or the National Economic Recovery Program (Program Pemulihan Ekonomi Nasional– “ PEN Program ”). In this regard, the central government will provide guarantees for any funding facilities which is offered by financial-service institutions. [1]