Indonesia prepares PNM Mekaar rate cuts and Rp10 trillion sukuk auction

PT Permodalan Nasional Madani (PNM) is preparing the ecosystem to implement an 8 percent interest rate for its Mekaar financing program. This adjustment, targeted for early September 2026, aims to provide more affordable capital for ultra-micro entrepreneurs. Preparations include developing the Program Credit Information System (SIKP) in coordination with the Ministry of Finance, establishing cooperation agreements with the Ministry of Micro, Small, and Medium Enterprises, and securing liquidity support from state-owned banks coordinated by Danantara.

Separately, the Indonesian government is set to auction eight series of Sharia Government Securities (SBSN) next week, aiming to raise Rp10 trillion. The auction, conducted through Bank Indonesia, includes Sharia Treasury Bills (SPN-S) and Project Based Sukuk (PBS). The underlying assets for these securities consist of State-Owned Assets (BMN) and projects within the 2026 State Budget (APBN).