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INDONESIAN government will include financial guarantees for banks to support the hotel and tourism sector to rise from adversity due to the COVID-19 pandemic.
According to the Coordinating Minister for the Economy, Airlangga Hartarto, said simply, the minister of finance will put funds in the banking sector and the banking sector will continue this back to back to the hotel sector, this is what we are finalizing.
Airlangga said that integration of supply, demand and acceleration of vaccination is the key to reviving the hotel and tourism sector. The financing guarantee is one of the supports from the supply side that the government is currently working on.
“Apart from that, still from the supply side, to support the minimum financing for hotel maintenance so that it is ready and feasible to operate, the government has also prepared several other supply side alternatives. Namely, relaxation of loan provisions and restructuring, provision of working capital loans at low interest rates for hotel maintenance, working capital credit guarantee facilities, and local government support,” he said.
He added, we are discussing the provision of working capital with Financial Services Authority (OJK) and Central Bank (BI). For a tourism sector that has no cash flow but a good outlook, of course this requires working capital needed for hotel maintenance, swimming pool maintenance, maintenance, looking after hotel employees, this is being prepared.
Meanwhile, to increase the demand side, Airlangga explained that the government prepared an incentive “Bangga Buatan Indonesia” or Proud to be Made in Indonesia to encourage the flow of tourists.
“We are currently preparing tour packages for health workers and also using a combination of mutual cooperation vaccines for certain areas. For companies participating in the mutual cooperation vaccine, they are entitled to get discounts or travel package coupons for their employees or discount on meeting packages at hotels,” he noted.
Airlangga explained again, then every person who has been vaccinated twice, both vaccine programs and mutual cooperation, has the opportunity to buy tour package coupons. As for the strategic policy of the 2021 State Budget, the tourism sector gets an allocation of IDR14.2 trillion which is budgeted to encourage the recovery of the tourism sector with a focus on five super priority areas as well as the development of the Public Private Partnership (PPP) scheme. [traveltext.id/photo special]
