Jakarta, June 27 -- Support from the banking sector is one of the key factors behind the success of Indonesia's subsidized housing program, according to Minister of Housing and Settlements (PKP) Maruarar Sirait.

His remarks came following Bank Mandiri's commitment to expand financing for subsidized housing through the Housing Finance Liquidity Facility (FLPP) scheme.

"That is great. I am pleased that Bank Mandiri is supporting the Three Million Houses Program," Sirait said after signing a memorandum of understanding (MoU) between the state-owned bank, the Ministry of Housing, and BP Tapera in Jakarta on Thursday.

He noted that Bank Mandiri's move represents a concrete example of synergy between banks and the government.

He emphasized ...