MBK Loan 2017 (IFC-40365)

  • East Asia and Pacific
Where the impacts of the investment may be experienced.
  • Indonesia
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
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 29, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • 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, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 9, 2018

Disclosed by Bank Nov 14, 2017

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Project Description

According to the IFC website, the proposed project consists of a senior syndicated loan to PT Mitra Bisnis Keluarga Ventura, IFC’s existing portfolio client and a leading microfinance institution (MFI) in Indonesia. MBK started operations in 2003 and as of September 30, 2017, operates with an asset base of around US$179 million, serving close to 1 million clients. MBK targets the bottom 25 percent of the population in Indonesia by income, with a focus on rural women not traditionally banked by commercial banks and other finance institutions. The funding shall be used to support the growth of the Company’s microfinance portfolio, mainly targeting underserved rural women borrowers.

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description

The shareholders of MBK are PT. Bina Usaha Keluarga (BUK) (99.7 percent) and Nahruddin Alie (0.3 percent), an Indonesian investor. BUK is owned by IFC (20 percent), Mr. Shafiq Dhanani (40 percent) and Ms. Elizabeth Sweeting (40 percent). Mr. Dhanani is the President Director and founder of MBK, while Ms. Sweeting is the Deputy President Director and Co-founder of MBK.
The founders have previously consulted with several international organizations and have more than 27 years of experience in Indonesia. Mr. Dhanani received his D.Phil. in Development Economics from Oxford University whereas Ms. Sweeting received her Ph.D. from the University of Sussex. Mr. Alie holds a Masters Degree in Human Settlements Development Planning from the Asian Institute of Technology. Previous positions include National Officer, UNIDO Jakarta, and Staff, Department of Industry, Jakarta.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Nahruddin Alie Parent Company -
- - - - PT Mitra Bisnis Keluarga Ventura - MBK Ventura Client -

Contact Information

PT Mitra Business Keluarga
Shafiq Dhanani
+62 21 3972 9909
Synergy Building, Lantai 16, Unit 6-8, Jalan Jalur Sutera Barat Kav. 17, Alam Sutera, Tangerang


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