Sirait noted that BI’s support reflects strong synergy for the housing development program, especially as housing construction is considered capable of boosting the industrial sector and creating jobs for the public.
“The Three Million Houses program, as instructed by President Prabowo, must involve various parties and be carried out in synergy, including with BI,” he said in a statement received here on Sunday.
On Friday, the minister met with the BI governor to discuss the program’s potential to stimulate economic growth and generate employment opportunities.
Warjiyo stated that Bank Indonesia supports the country’s housing programs through two main steps: providing liquidity incentives to banks that offer housing loans, and allocating funding for public housing projects.
BI has set aside Rp80 trillion (around US$4.92 billion) in the form of reduced minimum reserve requirements (GWM) for banks.
“In the past year, we have purchased Rp155 trillion (around US$9.53 billion) worth of government securities. Of that amount, around Rp45 trillion has been channeled by the Finance Minister to fund public housing,” he remarked.
He added that going forward, BI will strengthen synergy to improve the effectiveness of its support for the government’s Asta Cita programs, particularly public housing.
The BI governor explained that housing programs are a priority for both the government and BI because they can improve people’s welfare, support economic growth, and create many jobs.
The Indonesian government is committed to building three million houses per year to address the housing backlog and provide decent, affordable homes for low-income residents.
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Translator: Aji Cakti, Raka Adji
Editor: M Razi Rahman
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