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    DPD RI Appreciates the Synergy of Bali Microfinance Institutions

    29 April 2021, 13.32 WIB Last Updated 2021-05-16T21:57:35Z

    NEW NEWS ■ Chairman of the DPD RI, AA LaNyalla Mahmud Mattalitti, appreciated the Bali Provincial Government for encouraging synergies between microfinance institutions to accelerate economic recovery after the Covid-19 pandemic.

    The Bali Provincial Government takes advantage of the existence of microfinance institutions, such as Rural Banks (BPR), cooperatives and Village Credit Institutions (LPD), to revive the economic sector.

    "I appreciate the Bali Provincial Government for issuing various policies and regulations to protect microfinance institutions, so that they are able to compete in the global era and be able to play a strategic role and synergy," said LaNyalla, on Thursday (29/4/2021).

    The senator from East Java said that microfinance institutions can be utilized by ultra-micro business actors and micro-businesses whose capital is relatively small, but is in the real sector.

    "These steps can be imitated by other regions to revive the economic sector with various concrete steps, from ultra-micro to large financial sectors so that we can accelerate the recovery and stability of the local economy," said the alumnus of Universitas Brawijaya Malang.

    In 2020, heavy pressure will be faced by the economic sector in Bali, which cumulatively recorded negative growth of -9.31 percent. There were three sectors that were most affected, namely accommodation, food and beverage by 92.47 percent, the service sector by 90.90 percent and the transportation and trade sector at 90.34 percent.

    In this context, microfinance institutions have a very strategic role to restore the level of the economy in Bali which was affected by Covid-19.



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