Ex-LPEI Director Claims Bad Loans Occurred After His Tenure

A former executive of Indonesia's state-owned export financing institution, Lembaga Pembiayaan Ekspor Indonesia (LPEI), has asserted that the non-performing loans plaguing PT Tebo Indah and PT Pratama Agro Sawit emerged after his term concluded. Dwi Wahyudi, former Managing Director I of LPEI, stated in court that the repayment issues for these companies only began in 2020, two years after he left his position in December 2018.

Wahyudi testified as a defendant in a corruption trial at the Central Jakarta Tipikor Court, emphasizing that all financing facilities under his leadership from 2016 to 2018 were performing smoothly, categorized as "Kolektibilitas 1" (Collection Category 1), indicating no payment issues.

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On 2016-2018 all payments were smooth, Collectibility 1. Non-smooth payments only occurred in 2020.

He further asserted that the credit approval processes during his tenure adhered strictly to established governance procedures and that the financial condition of the loans was healthy. Wahyudi detailed that LPEI's financing proposals involved a tiered and professional process, including reviews by business and risk management units before reaching the Financing Decision Committee (KPP).

The case centers on alleged corruption in national export financing by LPEI between 2015 and 2020, which prosecutors claim resulted in state losses of approximately Rp992.82 billion. Seven other defendants are implicated in this case, including former LPEI officials and executives from the involved companies.

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Before I left LPEI, all payments were smooth and there were no problems.