ANNOUNCEMENT 30 Dec 2020

In December 2020, Indonesia provided a capital injection of IDR 2 trillion (USD 143.7 million) to PT Bio Farma to increase its production capacity. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

[CNBC Indonesia, "Jokowi Resmi Suntik Modal Rp 2 T untuk Bio Farma", published on 31 December 2020, retrieved on 7 January 2021, in Bahasa Indonesia]: https://www.cnbcindonesia.com/market/20201231074918-17-212719/jokowi-resmi-suntik-modal-rp-2-t-untuk-bio-farma

[Republika, "Pemerintah Suntik Bio Farma Rp 2 Triliun", published on 4 January 2021, retrieved on 7 January 2021, in Bahasa Indonesia]: https://republika.co.id/berita/qme67w370/pemerintah-suntik-bio-farma-rp-2-triliun

Inception date: 30 Dec 2020 | Removal date: open ended

Capital injection and equity stakes (including bailouts)

On 30 December 2020, according to the attached news, Indonesia provided a capital injection of IDR 2 trillion (USD 143.7 million) in the form of equity capital participation to PT Bio Farma through the issuance of Government Regulation No.80/2020. The capital injection would be used to manufacture drugs and vaccines produced by PT Bio Farma. 

PT Biofarma is an Indonesian state-owned enterprise based in Bandung and the only local vaccine manufacturer in Indonesia.

*IDR to USD conversion as of 30 December 2020 - IDR 13,926/USD

 

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