According to the bank document, Asian Development Bank (ADB) will provide a senior unsecured loan to PT Indosurya Inti Finance (Indosurya) of up to $30 million (or its rupiah, equivalent) of up to 5 years. The proposed loan to Indosurya will support the on-lending and expansion of its small and medium-sized enterprise (SME) loan portfolio.
Funding from the ADB will provide support for critically needed financial products and services to this underserved segment in Indonesia with targeted support for women SME clients and borrowers in less-penetrated geographical markets, primarily outside Greater Jakarta. The project is consistent with ADB's Strategy 2030, especially its operational priorities of
(i) addressing remaining poverty and reducing inequalities by facilitating quality job creation through SMEs, and
(ii) accelerating progress in gender equality by narrowing the gender gap through economic empowerment through better access to finance for women SMEs
In the event that the A loan or part of it is denominated in US dollars, ADB expects to syndicate a B loan of up to $50 million by mobilizing impact investors and other eligible B loan participants, subject to market conditions. ADB also expects to provide a TA to support and enhance Indosurya's asset and liability management framework.
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Financial Institutions Division
Responsible ADB Officer De Leon Dovale, Jacobo
*There is no further information being disclosed at this stage of the project*
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main