Amar Bank Provides Credit Facilities for eFishery Farming Partners

PT Bank Amar Indonesia Tbk (IDX: AMAR) announced a strategic collaboration with eFisheries to distribute credit facilities to aquaculture or fisheries MSMEs. This joint credit facility is in the form of: closed-loop financing or ecosystem financing with a value of up to IDR 100 billion.

This partnership is one of Amar Bank's ongoing strategies to reach business partners who can bridge the distribution of funding easily. Meanwhile, this partnership will target fish farmers who are members of the Love, Pay Later (Kabayan) program from eFishery.

The Kabayan program was launched in January 2020 with the aim of providing fish farmers with access to finance that can support their business development.

"Amar Bank is committed to reaching more MSMEs, and eFishery is the right partner to help us encourage the growth of aquaculture MSMEs in Indonesia," said Digital Banking Service Function Head Amar Bank Benyamin Tampubolon in his official statement.

In addition, Amar Bank will attach financial and banking services (Embedded banking and finance) into the eFishery platform to support the businesses of eFishery partner fish farmers.

Currently, Amar Bank through digital products my cash, has served nearly 400 thousand MSMEs and disbursed more than 1 million loans with a total of more than IDR 10 trillion.

eFishery CFO Dhianendra Laksmana added, "This partnership will be a significant step to encourage the growth of the aquaculture industry in Indonesia, especially for fish farmers so that they can more easily get financial access to develop their business by utilizing digital banking services."

eFishery itself in recent years has also received credit facilities from partnerships with a number of institutions, as:

As is known, financing partnerships for business capital are often carried out by banks with digital platforms to facilitate access, which has so far been the main conflict for business owners. Not only does eFishery do this, but also a number of others fintech other.