The government has special program related to the housing provision for low-income people, namely Home Ownership Credit (KPR). The Housing Financing Liquidity Facility (KPR FLPP) program has distributed Rp97.44 trillion from 2010 to June 2022.
This program is felt to be very useful. The FLPP value has succeeded in helping home ownership of 1.1 million units throughout Indonesia. This year, the program continues to be rolled out with the distribution of IDR 30 trillion from the APBN.
Meanwhile, the funds were channeled through State Capital Participation (PMN) of Rp. 21.1 trillion which was given to the People’s Housing Savings Management Agency (BP Tapera) of Rp. 19.1 trillion and to PT Sarana Multigriya Finansial (Perseo) or SMF of Rp. 2 trillion.
Meanwhile, the remaining funds were obtained from the issuance of debt securities by SMF and principal repayments received by BP Tapera and SMF.
SMF President Director Ananta Wiyogo explained that the FLPP mortgage program was run using funding from PMN and combined with the issuance of debt securities (leverage).
“From August 2018 to June 2022, SMF has succeeded in distributing FLPP mortgage funds of Rp. 11.2 trillion for 318,413 housing units,” said Ananta, Monday (22/8/2022).
SMF in this case helps to ease the burden on the Ministry of Finance as a fiscal tool by funding 25 percent of FLPP mortgage funding. That way, the government only needs to provide 75 percent of the total FLPP funds from the original 90 percent.
In addition, SMF synergizes with BLU PPDPP to channel assistance funds for the banking portion of FLPP mortgage financing aimed at Channeling Banks.
“This is a manifestation of the state’s presence to support homeownership for all Indonesian people, especially low-income families. Where the funds channeled for subsidized mortgages come from the state budget, which is used as much as possible for the welfare of the Indonesian people,” he said.
For information, previously the Ministry of Finance Sri Mulyani Indrawati said the government had sought various funding schemes to reduce the backlog through the use of the APBN, including the FLPP.
Sri revealed that the state budget has worked hard to provide benefits to people in need, one of which is to have affordable housing which is targeted to be distributed to 200,000 housing units.