Swan.my.id - Jakarta, Danantara COO and Head of the State-Owned Enterprises Agency Dony Oskaria has rejected concerns that Himbara loans for government programs could trigger a rise in bad debt.
Dony said loans guaranteed by the state are among the safest forms of financing. He made the statement at the Presidential Palace Complex in Jakarta on Monday (7/9).
He also emphasized that the state-owned banks grouped under Himpunan Bank Negara, or Himbara, do not directly finance government programs. According to Dony, the lending scheme follows a normal business-to-business, or B2B, model.
State Guarantee Considered the Main Protection
Dony argued that the state guarantee provides protection for banks involved in the financing. He said the loans should not be viewed as immediately vulnerable to default because the repayment obligation is backed by the state.
From the banking perspective, he said the arrangement remains secure because the loans are issued under a guarantee. Dony also stated that Himbara only provides credit under normal lending procedures.
“We only provide credit in accordance with normal credit practices,” Dony said, as reported from his remarks in Jakarta.
Agrinas Loan Uses a B2B Structure
One example involves PT Agrinas Pangan Nusantara, which applied for financing from Himbara. Dony said the company’s loan is guaranteed by the state.
Agrinas Pangan previously received Rp240 trillion from Himbara. The funds are intended to support the financing of the Koperasi Desa Kemitraan Mandiri Pangan, also known as KDKMP or Kopdes.
Antara reported that the loan carries annual installments of Rp40 trillion over a six-year period. The first installment payment to Himbara is scheduled for September 2026.
Repayment Awaits Verification
The repayment schedule will begin after verification by the Financial and Development Supervisory Agency, or BPKP. This verification forms part of the process before the installment payments are made.
KDKMP has reportedly received credit facilities from Himbara banks. The financing model provides loans of up to Rp3 billion for each outlet.
The structure places the financing within a commercial lending framework, according to Dony. His explanation was intended to counter the perception that Himbara banks are being asked to distribute funds without standard credit considerations.
What the Financing Means for Himbara
Dony’s statement highlights two elements in the arrangement: the state guarantee and the B2B lending structure. The guarantee is presented as the main reason the credit is considered secure, while the B2B model indicates that the financing follows regular banking procedures.
Meanwhile, the repayment timeline gives the program a defined schedule. The first payment is not due until September 2026, following the required BPKP verification.
For Himbara, the arrangement involves financing Agrinas Pangan under a state-backed structure rather than directly funding a government program. Dony maintained that this distinction is important when assessing the potential risk of non-performing loans.
As the repayment process approaches, the verification stage will remain a key step. The available details identify the state guarantee, normal credit procedures, and BPKP verification as central parts of the financing structure.
