JAKARTA - PT Adiwisata Finansial Teknologi (Danai.id), an authorised fintech lending company, has formed a strategic partnership with PT Bank JTrust Indonesia Tbk (BCIC).

The collaboration is aimed to promote blue economy development in Indonesia by granting financing access to micro, small, and medium enterprises (MSMEs) in the fishery and sea-related product industry.

One type of this partnership includes inventory financing facility, a facility that utilises inventory stock as collaterals.

Blue economy, also known as ocean economy, refers to the sustainable utilisation of ocean natural resources to boost economic growth, social welfare, and ocean ecosystem health.

In ASEAN region, maritime domain is the main growth engine for ASEAN economy. For example, fisheries, sea transportation, and maritime tourism contribute nearly 15.5% to Gross Domestic Product (GDP) and account for 18.2% of working opportunities.

Ritsuo Fukadai, President Director of J Trust, mentioned that this partnership is a part of the bank’s strategic measure to promote MSME in the blue economy sector.

“Through an innovative digital approach such as Danai.id, we believe that business owners may grow sustainably whilst still adhering to bank’s prudent principles,” Fukadai explained.

On the other hand, Azhar Abdul Wahab, President Director of Danai.id, said that this partnership will provide great benefit for MSME’s productive sector, particularly in the fishery and sea-related product industry.

More on the inventory financing facility, Director of Business of Danai.id, Irianto Gunawan, mentioned that the facility will utilise modern technology such as AI and CCTV to monitor inventory stock that has been provided as guarantee.

“The facility allows MSME players to use their inventories as collaterals, eliminating the need for fixed asset collaterals, such as land or building,” Gunawan said.

For the record, since its establishment in 2018, Danai.id has managed to channel credit of over IDR 760 billion with the success rate of loan repayment of 99.06%.

This collaboration between Danai.id and J Trust Bank is expected to grant positive and significant impact for MSME development, particularly in the ocean economy sector. (DK/ZH)