Heaptalk, Jakarta – Indonesia’s largest private bank, Bank Central Asia (BCA), has officially joined the government’s FLPP program, a subsidized mortgage initiative aimed at providing affordable housing for low-income communities (MBR). This strategic collaboration was confirmed during the signing ceremony held at the Directorate General of State Assets (DJKN), Ministry of Finance, Jakarta (05/23).
Minister of Public Housing and Settlement Areas (PKP), Maruarar Sirait, who witnessed the signing between BCA President Director Jahja Setiaatmadja and BP Tapera Commissioner Heru Pudyo Nugroho, expressed optimism that BCA’s participation would significantly boost access to quality and affordable housing.
“Today marks a historic milestone in Indonesia’s housing sector. With BCA onboard as a disbursing bank, we can expand the reach of FLPP significantly,” Minister Maruarar said.
FLPP Boosts Accessible Home Ownership
The FLPP program offers mortgage loans with only a 1% down payment, fixed interest rates throughout the tenure, and affordable house prices, making it a vital tool in the government’s 3 Million Homes Program initiated by President Prabowo Subianto.
With total assets of over IDR 1,400 trillion, BCA’s extensive national network is expected to play a crucial role in accelerating the distribution of FLPP-backed mortgages.
“If BCA starts with just 1,000 units, I am confident this figure can grow exponentially,” the minister added.
In Q1 2025 alone, FLPP disbursement reached 53,874 housing units, marking an 11-fold increase (1,173.92%) compared to the same period in 2024. This remarkable growth underscores the increasing trust in the program under President Prabowo’s leadership.
Private Sector Commitment on the Rise
The minister also hinted at the growing interest among private banks to support the program. In addition to BCA, Bank Nobu and Bank Artha Graha have also shown keen interest in FLPP participation.
“This is not just a vote of confidence in the ministry, but more importantly, a strong signal of trust in President Prabowo’s housing agenda,” he said.
Minister Maruarar emphasized that alongside strengthening banking partnerships, it is also crucial to ensure the readiness of developers, consumers, and available land to support the program’s targets.
BCA Supports National Housing Vision
BCA President Director Jahja Setiaatmadja affirmed the bank’s commitment to support the national housing agenda and acknowledged the importance of multi-sector collaboration.
“The 3 Million Homes Program is a national priority that deserves support from all stakeholders, including the banking sector. We’re proud to contribute to this mission to uplift the quality of life for low-income families with the capacity to repay,” Jahja stated.
As the partnership matures, BP Tapera is expected to detail BCA’s commitment in terms of disbursement targets and technical implementation.
Minister Maruarar concluded with an optimistic outlook:
“I believe we can surpass the 350,000 FLPP target this year with the combined effort of banks, developers, and communities. Let’s work together to make home ownership a reality for all Indonesians.”
