JAKARTA - Bank Indonesia (BI) will increase the Macroprudential Liquidity Policy (KLM) incentive by Rp56.81 trillion to support the 3 million housing programme. With this addition, the KLM incentive will increase to IDR 80 trillion from the existing incentive of IDR 23.19 trillion.

Perry Warjiyo, Governor of BI, said that the increase in KLM incentives will be gradual. ‘We provide Rp23.19 trillion now. From the discussion, we will gradually increase it to Rp80 trillion to support this housing programme,’ he said in a press conference at the BI Building, Central Jakarta, yesterday (11/2).

According to him, the additional KLM housing incentive is BI's commitment to support President Prabowo Subianto's Asta Cita vision. The focus on developing the housing sector is considered capable of having a significant effect on the economy, including job creation, purchasing power, and encouraging the growth of other industrial sectors. ‘We provide macroprudential liquidity incentives to banks that channel credit for the 3 Million Houses programme,’ he said.

It is known that the Chairman of the DPP Real Estate Indonesia (REI)  conveyed that the housing backlog was 12.7 million housing units in 2020. (EF/LK/LM)