More Aggressive, Bank Jatim Holds PTPN X for Partnership

Date: 03 december 2015

Categories : All News

bankjatim is increasingly aggressive in distributing credits to various sectors. This time, it’s done by signing theCooperation Agreement of Implementation Bankit Credit KKPA at Sugar Cane Plantation Sector Partnership Planting Season Year of (MTT) 2015/2016 and 2016/2017 which was conducted by the Director of Agribusiness and Sharia Business of bankjatim, Tony Sudjiaryanto and the Finance Director of PT PTPN X Muhammad Hanugroho at head office of bankjatim (2/12).

 Credit BANKIT KKPA at the Sugar Cane Plantation Sector is a credit given by bankjatim to the Cooperative that is appointed by the Sugar Factory units of PTPN X in order to fund society's sugar cane to be forwarded to its members that is implemented with acooperationbased on the deal between the Sugar Factory (PG) and Cooperative on the basis of the principle of mutual needing, mutually reinforcing and mutually beneficial, with PTPN X and Sugar Factories as avalist credits.

In this case, the Sugar Factory participantof Credit on Sugar Cane Plantation Sector is a business unit of PTPN X that the whole SugarFactoryis under the auspices of PTPN X. Whereas Cooperative which is included in Credit BANKIT KKPA on Sugar Cane Plantation Sector Partnership is a Cooperative established by Sugar Factory.

 Director of Agribusiness & Sharia Business of bankjatim Tony Sudjiaryanto said that the source of BANKIT KKPA credit on Sugar Cane Plantation Sector Partnership MTT 2015/2016 and 2016/2017 is from the Revolving Fund Management Institution for Cooperative and Small and Medium Micro Enterprises (LPDB-KUMKM).

 The source of credit is from LPDB-KUMKM and implemented under the provisions of credit set by bankjatim. In the implementation, PTPN X shall guarantee the repayment of creditgiven bybankjatim as avalist to the Cooperative that is coached by Sugar Fcatory in the Work Area of ​​PTPN X to fund the cultivation of sugar cane that is involved. Bysigning this letter of agreement, PTPN X has been willing and giving approval of guarantees for the entire credit given bybankjatim to the Cooperative that is recommended by Sugar Factories under its wing,"explains Tony.