PT Bank Negara Indonesia (Persero) or BNI signed a strategic cooperation with PT Sarana Multi Infrastruktur (Persero) or SMI through a Repurchase Agreement (repo) transaction worth IDR550 billion. This is the first collaboration carried out by BNI in order to strengthen the liquidity of corporate customers while supporting the financing of strategic infrastructure projects in Indonesia.
The cooperation was signed by BNI Treasury SEVP Ita Tetralastwati and SMI Operations and Finance Director Aradita Priyanti at Grha BNI, Jakarta, last week.
BNI Treasury SEVP Ita Tetralastwati said, through repo transactions, BNI provides funds to SMI with collateral in the form of securities, allowing SMI to receive obtain short-term funding more efficiently.
"This REPO transaction provides benefits for both parties. This transaction allows BNI to optimize fund placement. Meanwhile, for SMI, this transaction provides convenience in obtaining liquidity quickly and flexibly, allowing it to support the financing of infrastructure projects that are currently underway," Ita said in a press release.
In the same place, Aradita added, the cooperation is in line with the government's efforts to encourage infrastructure development in Indonesia. This repo transaction is expected to be one of the effective instruments in supporting the acceleration of infrastructure development.
"With the support from BNI, SMI can be more flexible in carrying out its role as a catalyst for infrastructure financing," she said.
BNI and SMI are committed to continue on strengthening cooperation and developing various other innovative financing initiatives. Through robust collaboration between the banking sector and infrastructure financing institutions, it will provide significant contributions to economic growth and sustainable development in Indonesia.