Head of Rural Bank & MSME Development Bureau Central Bank of Indonesia SMEs Financing Amid The Financial Crisis : The Case of Indonesia 金融危机下的中小企业融资：印度尼西亚的经验 Sharing for workshop on improving access to finance for SMEs in the Asia-Pacific Region: Shanghai, China, 8 -12 June 2009 改善亚太地区中小企业融资渠道国际研讨会 中国上海，2009年6月8-12 Khairil Anwar Head of Rural Bank & MSME Development Bureau Central Bank of Indonesia 印尼央行农村金融与中小企业发展局

OUTLINE 概述 Overview of Financial Providers to MSMEs in Indonesia 印尼中小企业金融服务提供商概览 Indonesia Banking Sectors Overview 印尼的银行体系概览 Lesson learned : 1997/1998 crisis 1997/1998亚洲金融危机的教训 Impact of 2008 Crisis to Banking sector, MSME and Indonesian economy 2008经济危机对银行业、中小企业以及印尼经济的影响 Rural Bank Strategy in Responding to Global Financial Crisis 应对全球金融危机的农村金融策略 Policy and Regulation to Lessen Impact of Global Financial Crisis 减轻全球金融危机影响的政策与措施 Promoting Banking Intermediary to Microfinance as an Intermediary Milestones to reach the Unbanked People 推动银行中介机构进行小额贷款，以覆盖无银行服务的群众

FINANCIAL SERVICE PROVIDERS OF MSMEs 中小企业金融服务提供商 典当铺 MSMEs (49,84 milion business unit)* Commercial Bank Rural Bank Saving and Loan Cooperative Pawnshop Multi finance/ Leasing Company Non Bank/CooperaitveMicrofinance Institution (BMT/LDKP/LPD/BKK/LPK) Money Lender 储蓄和贷款合作社 金融租赁公司 非银行机构 Non Bank 非银行金融机构 农村银行 Bank 银行 银行：乡村银行，商业银行 非银行：储蓄与贷款合作社，当铺，综合金融/借贷公司，非银行、合作社形式的微型金融机构（BMT/LDK/LPD/BKK/LPK），贷款者 钱庄 商业银行

INDONESIAN BANKING SECTOR OVERVIEW 印尼银行体系概述 COMMERCIAL BANK COMMERCIAL BANK (CONV.) SHARIA COMMERCIAL BANK RURAL BANK RURAL BANK (CONV.) SHARIA RURAL BANK Number of Banks (as of March 2009): 银行总数（截至2009年3月） No. Category 分类 Total Banks 银行总数 Total Offices 办事机构总数 1 Commercial Banks (conventional) 传统商业银行 123 12.047 2 Rural Banks (conventional) 传统农村银行 1.768 3.408 3 Sharia Commercial Banks : 伊斯兰商业银行： Sharia Commercial Banks 伊斯兰商业银行 Sharia Business Unit of Commercial Banks 商业银行的伊斯兰业务部 5 26 635 253 4 Sharia Rural Banks 伊斯兰农村银行 133 208 Grand Total 汇总 2.055 16.551

LESSON LEARNED : 1997/1998 CRISIS 1997/1998亚洲金融危机的经验教训 Refocusing of Central Bank Policy based on New Bank Indonesia Act No. 23/1999 Single objective : to reach and to maintain the stability of rupiah. Bank Indonesia as lender of the last resort. Bank Indonesia shall no longer extend financial assistance (credit program) to SME, because Com.Bank able to mobilized funds. 1997/1998 crisis Some policy responses on SME Advise banks to allocate part of its lending to SMEs and state it in the business plan submitted to BI and publish the disbursement quarterly in the media. Encourage bank to lend to SME via Rural Banks and other MFIs. Provide technical assistance for bank officers and Business Development Services Provider (BDSP). Publish some leniencies in prudential regulation to push bank lending to SME. Mon.Crisis (liq.squeeze) Banking Crisis (16 Banks closed) Political Crisis (President stepped down)

LESSON LEARNED : 1997/1998 CRISIS 亚洲金融危机的经验教训 基于1999年新印尼央行法案第23条，印尼央行做出新调整： 唯一目标：维持卢比的稳定性； 明确印尼央行为最终贷款人； 印尼央行不再对中小企业提供金融援助（信贷计划），因为商业银行能调动资金。 1997/1998 危机 货币危机 中小企业的应对： 建议银行分配部分贷款资金给中小企业，并在提交给BI的商业计划中说明，每季度向媒体公开； 鼓励银行通过农村银行和其他小额金融机构向中小企业贷款； 向银行职员和商业开发服务提供商提供技术援助； 公布宽容而审慎的管理制度，鼓励银行向中小企业贷款 货币危机（流动性紧缩） 银行业危机（16家银行倒闭） 政治危机（总统下台）

LESSON LEARNED : 1997/1998 CRISIS (CONT.) Impact on SMEs Financing to SME mostly provided by banks. Amount of bank business plan & its disbursement are increasing from time to time. Market mechanism in SME financing (no subsidy, market interest rate) 2008 Financial Crisis SMEs become more resilient SMEs credit keeps a good performance Most SMEs are domestic-market-oriented  less impact of financial crisis

LESSON LEARNED : 1997/1998 CRISIS (CONT.) 亚洲金融危机的经验教训 对中小企业的影响 对中小企业的融资主要来自于银行 银行商业计划以及支出在不时的增加 中小企业融资的市场机制（没有补贴或市场利率） 2008年金融危机 中小企业更有弹性 中小企业信贷表现良好 绝大多数中小企业是国内导向，因而受金融危机影响较小

IMPACT OF 2008 CRISIS TO COMMERCIAL BANK 2008金融危机对商业银行的影响 Selected Commercial Banking Indicators 选定的商业银行业务指标 Indicator type 类型 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Total Asset (T Rp)总资产 1,944.7 1,949.4 1,972.6 2,040.8 2,018.8 2,024.8 2,125.4 2,235.0 2,303.4 2,310.6 2,308.0 2,343.7 2,352.1 Deposits (T Rp)储蓄率 1,466.2 1,482.0 1,505.7 1,554.2 1,535.0 1,526.0 1,603.5 1,675.0 1,707.9 1,753,292.0 1,748.8 1,771.1 1,786.2 Credits (T Rp)信贷 1,036.1 1,061.8 1,096.2 1,148.4 1,166.6 1,205.8 1,246.1 1,297.9 1,325.3 1,307.7 1,289.8 1,301.8 1,305.4 SBI (T Rp)银行发行的债券 162.1 169.6 148.7 113.7 95.5 84.5 87.7 124.4 152.3 166.5 208.5 216.5 208.1 CAR (%) 20.52 19.39 18.26 17.58 17.44 17.1 17.26 16.7 16.77 16.76 17.82 18.04 18.03 NPLs Gross (%不良贷款总额) 3.75 3.82 3.76 3.54 3.50 3.42 3.32 3.34 3.49 3.20 3.59 3.72 3.93 ROA (%)资产利润 2.72 2.56 2.62 2.53 2.68 2.71 2.64 2.68 2.60 2.33 2.69 2.60 2.76 LDR (%) 70.66 71.65 72.80 73.89 76.00 79.02 77.72 77.48 77.60 74.58 73.76 73.50 73.08 No of Banks 银行总数 128 128 128 127 127 127 126 126 126 124 123 123 123 Source: Indonesian Banking Statistics 来源：印尼银行业数据 The Indonesian banking sector remains strong as indicated by high CAR levels (18.03%), the increase of deposits and low of NPLs (<5%) 印尼银行业运行良好，指标显示，资本充足率高（18.03%），储蓄上升，不良资产低（<5%） Bank placements in SBIs (bonds issued by Bank Indonesia) experience an upsurge as credits fall. 随着信贷的下降，印尼央行发行的债券的执行率经历了猛涨 9

IMPACT OF 2008 CRISIS TO RURAL BANK INDUSTRY 2008金融危机对农村银行业的影响 Selected Rural Bank Indicators 选定的农村银行指标 22.40 22.33 21.99 22.43 22.63 23.34 24.13 23.54 25.10 NPLs Gross (%)不良资产总额 8.08 7.66 7.46 7.35 7.17 7.04 6.94 9.68 9.95 9.88 10.30 10.32 7.50 ROA (%)资产利润 3.53 3.86 3.74 3.58 3.55 3.60 3.42 3.40 2.91 2.61 -9.74 -3.11 3.43 LDR (%) 78.15 76.85 81.25 82.55 84.33 85.17 84.77 84.79 82.54 81.65 82.18 80.91 No of Banks银行总数 1,811.00 1,812.00 1,790.00 1,795.00 1,796.00 1,782.00 1,768.00 1,769.00 1,772.00 1,767.00 Indicator type 指标类型 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Total Asset (B Rp)总资产 28,693 29,865 30,374 30,317 31,059 31,356 31,900 31,963 32,086 32,533 32,239 32,703 32,681 Deposits (B Rp)储蓄率 19,572.0 20,249.0 20,435.0 20,195.0 20,691.0 20,640.0 20,712.0 20,796.0 20,961.0 21,339.0 21,528.0 21,917.0 21,790.0 Credits (B Rp)贷款率 21,607.0 22,851.0 23,587.0 23,877.0 24,400.0 25,099.0 25,701.0 25,636.0 25,746.0 25,472.0 25,404.0 25,888.0 25,336.0 Interbanks银行间流动 3,349.0 3,584.0 3,799.0 3,947.0 4,036.0 4,182.0 4,458.0 4,358.0 4,236.0 4,214.0 4,112.0 4,105.0 3,889.0 CAR (%) 24.64 23.76 23.11 22.68 Source: Indonesian Banking Statistics 来源：印尼银行业数据 1. In general, rural bank industry presented good performance as indicated by increase in total asset, loan and third party fund. 总体而言，就资产总额、贷款额以及第三方资金来看，农村银行业表现良好 2. The increase of NPL in the 4th quarter of 2008 was mainly because of a problem in one big rural bank due to a mismanagement and fraud, as well as the decline in commodity prices. Once this problem was settled, the NPL ratio is improved, as showed in the 1st quarter of 2009. 2008年第四季度不良资产的上升主要是由于某个大型农村银行的管理不善和欺诈以及商品价格的下降造成的。 一旦这些问题被解决，不良资产率得到改善，正如2009年第一季度数据所示。 3. There was a decrease in the commercial bank placement due to the liquidity squeeze in commercial banks. This was the significant impact of the crisis to the rural bank industry liquidity. 由于商业银行的流动性紧缩，出现银行人员配置下降。金融危机对农村银行流动性的影响巨大。 10

IMPACT OF 2008 CRISIS TO SMEs The decline of commodity price 商品价格下降 The decline in non oil export transaction (tradable goods) including the export transaction of SMEs 非石油出口交易的下降（可交易商品），包括中小企业的出口交易 Decreasing in production  Enterprises efficiency (i.e. lay off) 生产缩减企业效率（即裁员） Survey on SMEs* 关于中小企业的调查 Some more resilient SMEs: in retail trading, Hotel & Restaurant, Food & Beverages , and fashion. 更有生存能力的中小企业：零售行业、宾馆饭店、食品饮料以及时尚 Most SMEs are still optimistic about the economy condition and their future business 大多数中小企业对于经济形势以及未来的生意仍然充满信心 Decreasing in domestic demand 国内需求下降 Decreasing in production of other product (non tradable goods, such as from Trade, Construction, Transportation & Communication, Financial and Services ) Including those of domestic-oriented & export-linked SME 其他产品产量下降（如来自贸易、建设、交通、通讯以及金融服务业的不可交易产品 ） 包括国内导向以及与出口相关的中小企业

Some Macro Economy Target 一些宏观经济目标 Economy growth Inflation rate SBI rate Exchange rate (IDR/USD) 2009 (adjusted) 4.5% 6% 7.5% IDR11.000 2010 5 - 6% 4.5 - 5.5% 6 – 7% IDR9.500 – Rp10.500 经济增长 通胀率 SBI 率 汇率（卢比兑美元）

Limited Financial access due to : Some obstacles of SMEs 中小企业的一些障碍 In real sector Market (export & domestic) Infrastructure (road, power) Limited Financial access due to : Limited information on banks product & services Limited information on potential SMEs Limited of SME capabilities in meeting bank requirement

RURAL BANKS STRATEGY IN RESPONDING TO GLOBAL FINANCIAL CRISIS 农村银行应对全球金融危机的策略 1. During the crisis period, rural banks have slowed down their operation. This was indicated by some ratios in the 4th Quarter of 2008, such as the increase in CAR of rural banks which mainly due to the decrease of weighted risk asset. Also, there was a decrease in LDR to become 80.91% by the end of March 2009 (in September 2008 it was 85.17%). 危机期间，农村银行减缓了运作。2008年第4季度数据表明，例如农村银行资本 充足率的增加主要是因为风险资产的减少。同时，LDR减少到2009年3月的 80.91%（2008年9月的数据为85.17%） 2. Rural bank was also more selective in distributing loan by considering the secure sectors (for example not directly link to export business). 农村银行在分配贷款时更有选择，要考虑到安全的行业（例如，与出口产业没有 直接联系的行业） 3. Rural banks which implement personal approach and focus to their community are able to hold rush of third party fund. 实施个人法和关注他们社区的农村银行能够控制第三方资金

a. Adjustment on Commercial Bank Reserve Requirement (9% to 7.5%) POLICY IN LESSENNING IMPACT OF THE GLOBAL FINANCIAL CRISIS TO SMEs 减少全球金融危机影响对中小企业影响的政策 Policy and Regulation to Commercial Bank 商业银行的政策措施 a. Adjustment on Commercial Bank Reserve Requirement (9% to 7.5%) 调整商业银行的准备金水平 （9%到7.5%） b. Extension of SWAP transaction period (7 days to 1 month) 延长SWAP交易的时间（7天到1个 月） c. New regulation on foreign exchange transaction 外汇交易的新规章 d. Adjustment on existing regulation on short term foreign loans 短期外汇借贷的现行制度的调 整 e. Adjustments to current regulation on Bank Indonesia Short Term Funding Facility (FPJP) for commercial banks 对印尼央行现行的短期商业银行资金提供机制的制度调整 II. Policy and Regulation to Rural Bank 农村银行的政策措施 a. Issuing short term funding facility for rural banks 对农村银行开设短期资金提供机制 b. Leniency in providing provision of loss productive asset on fund placed at other banks which is under special survellaince 对于生产性资产损失条款给予更多的宽容，这样的资产以资金形式保存在其他受到特别监督的银行

减少全球金融危机影响对中小企业影响的政策 POLICY IN LESSENNING IMPACT OF THE GLOBAL FINANCIAL CRISIS TO SMEs (cont) 减少全球金融危机影响对中小企业影响的政策 III. Regulation to Expand credit to MSME 增加中小企业信用的措施 Reducing Risk-weighted Assets on credit for MSME (e.g. For Credit for the People scheme, Housing loan and personal loan) Credit performance of loan up to IDR 1 billion (USD 50,000) is based only on prompt repayment of principal and/or interest IV. Deposit Protection Scheme 储蓄保护措施 Increase the limit of guaranteed deposits in banks from Rp100 millions to Rp2 billions 将银行保险储蓄限制从Rp1亿增加到Rp20亿 V. Interest rate 利息率 BI has gradually decreased the benchmark interest rate (BI Rate) from 9.5% on November 2008 to 7% on June 2009 (250 base points) 印尼央行逐渐降低基准利率，从2008年11月的9.5%到2009年6月的7% （ 250基准数）

Promoting Banking Intermediary to Microfinance as an Intermediary Milestones to Reach the Unbanked People 推动银行中介机构进行小额贷款，以覆盖无银行服务的群众

Promoting Banking Intermediary to Microfinance Approaches to Promote Banking Intermediary to Microfinance 促进微型金融的银行中介方法 Promoting Banking Intermediary to Microfinance 促进微型金融的银行中介方法 The “Unbanked” 无银行服务的群体 Reinforce the competitiveness and institutional structures of rural banks 加强农村银行的竞争力和机制建设 Improve access to MSMEs credit and financing 改善中小企业信用和融资的渠道

Improve access to MSMEs credit and financing Reinforce the Competitiveness and Institutional Structures of Rural Banks加强农村银行的竞争力和机制建设 Improve access to MSMEs credit and financing 改善中小企业信用和融资的渠道 Strengthen linkage program between commercial banks and rural banks 加强商业银行同农村银行之间的联系计划 Simplify process for opening branch offices of rural bank 简化农村银行开设支行的手续 Facilitate establishment and monitoring of regional guarantee schemes for loan and financing 支持设立以及监管借贷和融资的区域担保计划 Encourage banks to extend financing to MSMEs with focus on low income people and rural communities 鼓励银行银行增加对中小企业的融资，并专注于低收入人群与农村社区

Policy and Regulation of Financial Inclusion Aims of policy and regulation of financial inclusion 金融包容性的政策措施的目标 Transparency on characteristics of Financial Product & Services; 金融产品与服务性质的透明化 Benefits 收益 Risks 风险 Costs 成本 Policy and Regulation of Financial Inclusion 金融包容性的政策措施 Improve Public Awareness 改善公众意识 Robust consumer protection 良好的消费者保护 Improve Public Acess 改善公众参与途径 Creating a credible database of “unbanked” individuals: Financial Identity Database 创建可信赖的“无银行服务群体”的数据库：金融身份数据库 Promoting banking intermediary to microfinance as a step stone to the “unbanked” 促进通往微型金融的银行中介，以服务“无银行服务”群体

The Relationship: FIN, CIN, and DIN FIN, CIN和DIN之间的关系 Customer Identity Number (CIN) 消费者身份号码 Financial Identity Number (FIN) 金融身份号码 Creditors (Banked Individuals)债权人（有银行服务） Unbanked Individuals无银行服务人员 Debtors (Banked Individuals)债权人（有银行服务） Debtor Identification Number (DIN) 债务人身份号码 Accomodated in the Debtor Information System (DIS) managed by Bank Indonesia 安置后的债务人信息系统，由印尼央行管理 - under improvement 需要改进 From FIN to CIN then DIN从FIN到CIN然后 FIN will be the complement to DIN / CIN FIN 会成为DIN和CIN的完成

End of Presentation 演讲结束 Thank You 谢谢 22