According to IFC website, the proposed project comprises of providing, PT Indosurya Inti Finance, a multi finance company based in Indonesia, a secured senior loan of up to US$80 million. IFC shall participate with up to US$35 million while the balance will be mobilized through a parallel or B loan on a best effort basis.The security is expected to include a pledge over specific eligible receivables.The funding shall be used to support the growth of the Company’s small and medium enterprises (SME) portfolio. Indosurya started operations in 2011 and now operates with an asset base of US$230 million as of December 31, 2016 serving close to 2,000 clients. The project is expected to have impact on the following areas:
1. Promoting financial inclusion and deepening the Non-Banking Financial Institution Sector in Indonesia;
2. Increasing access to SME Finance, by increasing outreach to small and medium scale entrepreneurs and;
3. Creating a Demonstration Effect.
Indosurya is majority owned by Surya Effendy, who owns 80.4% of shares, while Henry Surya, the current CEO of the Company, owns the remaining 19.6% of shares.
Indosurya is one of the companies that form the Indosurya Group which was founded by Mr Effendy in 1975. It comprises of companies across the financial and property sectors, including in securities/brokerage, asset management, credit union, life insurance and capital market advisory. The Group has an estimated asset base of more than US$1bn.
Project Contact: Junus Octora
CFO, PT Indosurya Int Finance
Telephone No.: +62 21 38 909068
Email Address: firstname.lastname@example.org
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