According to IFC website, the project consists of providing, PT. Radana Bhaskara Finance Tbk, a 5 year (1 year grace) secured senior loan of up to US$40 million (equivalent to around IDR 530 billion) in either Indonesian Rupiah (IDR) or US Dollars. The security is expected to be a pledge over specific eligible receivables providing 100% coverage. IFC shall participate with up to US$20 million while the balance is being mobilized through a parallel or B loan. The loan will support Radana to diversify from motorcycle financing to multipurpose, working capital and investment financing for productive purposes to low and middle income clients, including micro, small and medium enterprises. The proceeds will finance i) micro, small and medium enterprises; ii) individuals utilizing the loans for productive purposes; iii) home renovations; iv) student-loans and (v) women borrowers.
Risk Management - US $ 1.5 million
Loan - US $ 20.0 million
Radana is 71% owned by PT Tiara Marga Trakindo (“TMT”), the TMT Group’s parent entity. TMT is a diversified conglomerate in Indonesia, operating for over 45 years in multiple sectors (including through Trakindo Utama, the sole authorized dealer in Indonesia for Caterpillar heavy equipment and machinery). 4,25% is owned by PT HD Corpora and 12,36% is owned by Wealth Paradise Holding, Ltd.. While the balance is owned by the general public. Both PT. HD Corpora and Wealth Paradise Holding. Ltd are owned by Orang Tua Group which operates in the FMCG sector in Indonesia.
Project Contact: Mr. Dody Rachmat
Finance Director, PT. Radana Bhaskara Finance Tbk
Contact No.: +62 21 2952 7300
Email Address: email@example.com
Office Address: Blugreen Boutique office, 5th Floor, Jl. Lingkar Luar Barat Kav. 88,Jakarta 11610, Indonesia
ACCOUNTABILITY MECHANISM OF IFC
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/