BRI Appointed To Be A Micro Housing Financing Distributor

By : Abraham Sihombing And Aldo Bella Putra | Wednesday, August 23 2017 - 20:05 IWST

51 - Semarang - PT Bank Rakyat Indonesia Tbk (BBRI), or Bank BRI, is mandated by the government to become one of the financial services institutions in charge of channeling housing microfinance for non-permanent income communities.

Housing microfinance is a special scheme aimed at non-permanent income groups. The reason, this community group is not suitable to get financing through home mortgage scheme (KPR) as in general. This group is considered not appropriate to obtain housing finance involving large amounts of funds in the long term to decades.

Housing microfinance scheme is considered more appropriate because credit from financial service institutions gradually, starting the process of buying lots, foundation construction, to the construction of house structures and renovations.

In every stage of financing, the loan disbursed is set at a maximum of Rp50 million within a maximum period of 5 years.

The appointment of BRI as one of the financing institutions for housing microfinance is stipulated after signing a memorandum of understanding (MOU) with the Ministry of Public Works and People's Housing. MoU signing was done in Semarang, Wednesday (23/08/2017).

Besides BRI, the financial services institutions appointed to run this program are PT Bank Kesejahteraan Ekonomi, PT Pegadaian, and Yayasan Habitat Kemanusiaan Indonesia (YHKI).

The housing microfinance program is part of the One Million House development program launched by the government.

Until July 2017, according to the data of the Ministry of PUPR, the total houses that have been realized through the One Million House Program recorded as many as 449,702 housing units. In 2016, the realization is 805,169 units, while in 2015 as many as 699,770 units. (Abraham Sihombing)

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