Lotus Creation (IFC-34215)

  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 16, 2014
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 24.96 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 24.96 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 7, 2020

Disclosed by Bank Nov 14, 2014

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed project is to support Bank Mayora, a small-sized SME bank with over 20 years of lending experience and with a focus in the supply chain financing area. IFC will acquire an equity stake of the Bank through newly issued common shares (the “Project”).

Through this project, IFC will partner with the Bank’s controlling shareholder to roll-out an expansion plan to: (i) continue its accelerated loan growth expansion in SME and underpenetrated other segments; (ii) expand its distribution network and develop its branchless banking business, a key initiative and an integral part of its supply-chain financing business, particularly in the Food & Beverage (F&B) and retail sectors; and (iii) expand its capital base to BUKU II bank category.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The Project is expected to have development impact in the following areas:
- To increase access to finance to SME segment;
- To promote the best banking standard by introducing IFC''s environmental standards to the Bank and strengthening the Bank''s corporate governance system;
- To create jobs through network expansion and SME developmet.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Project is a minority equity investment for an up to IDR 300 billion in the form of newly issued common shares of the Bank.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The Bank is 100% owned by the Atmadja family (Mayora Group) who also owns PT. MAYORA Indah Tbk, one of the largest food and beverages manufacturers and distributors in Indonesia [and also IFC’s existing loan client. The Bank is wholly owned by the family through two local entities (PT Mayora Inti Utama and PT Mayora Dhana Utama).

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Irfanto Oeij – President Director
PT Bank Mayora
Jl. Tomang Raya Kav. 21-23, Jakarta, INDONESIA
P: +62 21 5655287 F: +62 21 5655277


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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