Bank Jatim Disburses Warehouse Receipt Credit to PG Rajawali I
Date: 14 october 2024Categories :
SURABAYA, October 14, 2024 – PT Bank Pembangunan Daerah Jawa Timur Tbk (Bank Jatim) has officially disbursed warehouse receipt credit financing to PT Pabrik Gula Rajawali I amounting to Rp 150 billion. This collaboration was marked by the signing of the Warehouse Receipt Credit Agreement by Bank Jatim’s SEVP of Corporate, Syndication, and Institutional Banking, Koerniawan Prijambodo, and PG Rajawali I’s President Director, Daniyanto, at the Semeru Room of Bank Jatim on Monday (October 14). The signing was also witnessed by Bank Jatim’s Director of Micro, Retail, and Medium Business R. Arief Wicaksono, Director of Finance, Treasury & Global Services Edi Masrianto, and Director of Operations Arif Suhirman.
Arief explained that Bank Jatim remains committed to being a strategic partner of the government, always ready to support state-owned enterprises (BUMNs) and their subsidiaries to grow and develop together through Bank Jatim’s credit facilities. “This financing for PG Rajawali I uses a standby warehouse receipt credit facility for white crystal sugar commodities, with a credit ceiling of Rp 150 billion. We hope that this credit facility can help boost domestic sugar production and absorb the sugarcane harvest during the designated milling period,” he stated.
In addition, Arief added that the warehouse receipt credit facility is expected to help farmers sell their harvests at optimal prices, thereby improving the welfare of local sugarcane farmers. “As a banking institution, we will continue to participate in driving the economic wheels of East Java. Through Bank Jatim’s warehouse receipt system, we can facilitate credit for businesses using inventory or goods stored in warehouses as collateral. Thus, the warehouse receipt system can help stabilize market prices by enabling year-round selling opportunities,” he explained.
The warehouse receipt itself is an instrument that empowers farmers, where the commodities they produce can be given economic value in the form of collateral, which can be used to obtain credit from banks or non-bank financial institutions at low interest rates. Through the Warehouse Receipt System, it is expected that farmers, farmer groups, cooperatives, and Indonesia’s small and medium enterprises can improve their productivity, ultimately enhancing their competitiveness in the national economy and globally.
Meanwhile, Daniyanto expressed his deepest gratitude to Bank Jatim for providing financial support through the Rp 150 billion warehouse receipt credit facility. “This is a tangible example of synergy between the industrial sector and the banking sector in promoting the welfare of sugarcane farmers. Hopefully, with the signing of this agreement, we will soon witness the positive impact of this project on national food security,” he concluded.
PT BANK PEMBANGUNAN DAERAH JAWA TIMUR Tbk
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