ANNOUNCEMENT 11 May 2015In May 2015, the government of Indonesia announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Presidential regulation 126/2015 (in Bahasa Indonesia):
Press release by Indonesia's Financial Services Authority (in English):
On 11 May 2015, the Indonesian vice-president launched the JARING (shorthand for Indonesian "outreach, synergy and guidelines") programme aimed at accelerating the growth of the country's maritime and fisheries sector.
The programme shall provide loans to traditional fishermen and SMEs in the fisheries sector in order to increase the industry's productivity. According to news reports, the loans will be distributed through eight banks. The state-run bank Bank Negara Indonesia alone committed to financing the industry with 300 billion IDR (ca. 22.9 million USD) each year.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
Due to the unavailability of trade data for the year 2014, the list of affected trading partners is based on UN Comtrade's trade volumes in 2013.
On 9 November 2015, the President issued regulation 126/2015 specifying the state aid to traditional fishermen and SMEs in the fisheries sector. Apart from the loans, the programme also includes a steady, price-fixed supply of liquified petroleum gas to the sector and provides a one-off distribution of engines, LPG tubes and LPG converter kits to the fishermen.