IFC will provide Rp 1.1t loan to BII

The Jakarta Post , Jakarta | Sat, 12/02/2006 1:03 PM | Business

JAKARTA: The International Finance Corporation (IFC), the private sector of the World Bank Group, announced Thursday that it would provide a local currency loan of about Rp 1.1 trillion (US$125 million) to Bank International Indonesia Tbk (BII).

IFC said that the financing is expected to make available long-term rupiah credit to BII which will enable it to increase lending to small and medium-scale companies.

""By providing long-term local currency funding, we also hope to help BII enhance its asset and liability risk profile,"" IFC said in a statement. JP

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