OJK To Support Growth Of Creative Economy

Jakarta (Antara Bali) - The Financial Services Authority (OJK) has been supporting the growth of the creative economy industry and small and medium enterprises (SMEs) to boost export financing through the financial sector.

"The creative economy industry has contributed eight percent to Indonesia's Gross Domestic Product (GDP) and accounted for 10 percent of national exports," the Chairman of the Board of Commissioners of the Financial Services Authority (OJK), Muliaman D. Hadad, said in a press conference here on Monday.

To support the creative economy industry, he noted, the OJK mediated a cooperation agreement among the Indonesian Financial Services Association (APPI), the Indonesian Association of Assurance Company (Asippindo) and the Indonesian Export Financing Agency (LPEI).

"We should focus on developing the creative industry. I believe that ensuring access to finance will lead to expeditious development of creative industries," he affirmed.

The Memorandum of Understanding (MoU) included a provision for financing guarantees for export and creative economy by the APPI.

"The MoU provides for guarantee allocation by members of Asippindo, financing guarantee by the LPEI, as well as other cooperation agreements," he said.

It is expected to accelerate the economic growth in the country.

The MoU was signed by the Chairman of Asippindo, Diding S Anwar; the Managing Director of the LPEI, Isnen Sutopo; and the Chairman of the APPI, Kelvin Wiratno.

"This strategic partnership can accelerate the national economic growth by enhancing export financing in the creative economy sector," he said. (WDY)