Jakarta - Indonesia Financial Group (IFG), SOE Holding Insurance, Guarantee, and Investment officially won State Equity Participation (SEP) worth Rp6 trillion.

"The company will use this state equity participation to strengthen the capital structure of its two subsidiaries, PT Asuransi Kredit Indonesia (Askrindo) and PT Guarantee Kredit Indonesia (Jamkrindo), in order to increase capacity as guarantor in MSME People's Business Credit," said IFG President Director Robertus Billitea through a press release on Friday (7/8).

He explained that the Rp6 trillion SEP, approved by Commission VI of the Indonesia Parliament RI, would be continued as additional IFG capital in Jamkrindo of Rp3 trillion and Rp3 trillion in Askrindo.

"This SEP is to anticipate the target of increasing the volume of people business credit guarantees where the additional capital is expected to support the capital of these two subsidiaries in carrying out assignments f