In a strategic move to bolster Indonesia's agritech sector, PT Bank DBS Indonesia has extended a substantial loan of Rp250 billion (approximately $16.5 million) to Chickin Indonesia, a pioneering agritech company specializing in integrated solutions for broiler chicken farmers.

Established in 2020, Chickin Indonesia has been at the forefront of revolutionizing the poultry industry by providing comprehensive support to broiler chicken farmers. Their services encompass the provision of high-quality day-old chicks (DOC), feed, and essential medications and vaccines. Additionally, Chickin offers technological advancements, including cloud-based software for effective farm management and Internet of Things (IoT) devices aimed at optimizing feed conversion ratios.

The significant loan from Bank DBS Indonesia is intended to serve as working capital for Chickin, enabling the company to enhance its operations and further its mission of modernizing poultry farming in Indonesia. This initiative aligns with the broader goal of providing affordable, high-quality protein sources to the Indonesian populace, thereby contributing to national food security.

Natalia Y. Ratulangi, Executive Director and Head of Mid Cap, Institutional Banking Group at PT Bank DBS Indonesia, expressed enthusiasm about the collaboration, stating, "The mid-cap segment remains promising with bright prospects, continually evolving with numerous opportunities to be harnessed." She emphasized that Chickin's innovative approach has the potential to significantly impact sustainability and efficiency within the agribusiness sector.

Chickin's commitment to sustainability is evident in its integrated approach. Upstream, the company empowers farmers through partnerships, supplying essential farming inputs and offering regular guidance coupled with technological tools. Downstream, Chickin processes live chickens into consumable products, distributing them to over 200 businesses across various sectors, including hotels, restaurants, catering services, and food processing industries. This comprehensive model ensures that the products not only meet customer needs but also adhere to sustainable food safety standards.

Co-founder and Chief Executive Officer of Chickin, Tubagus Syailendra W., highlighted the impact of the funding, stating, "This support enables us to provide working capital for small-scale farmers, ensure more environmentally friendly farming practices through technology, increase farmer productivity, and support food security for the Indonesian community."

This partnership underscores Bank DBS Indonesia's commitment to being a trusted banking partner for mid-cap companies that are experiencing growth and business expansion. By supporting innovative agritech firms like Chickin, Bank DBS Indonesia is playing a pivotal role in advancing sustainable agricultural practices and strengthening Indonesia's food security framework.