PT INDOSURYA INTI FINANCE (FMO-55563)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
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
Oct 24, 2019
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.
Borrower
PT INDOSURYA INTI FINANCE
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 22.22 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 20.00 MLN
Converted using 2019-10-30 exchange rate.
Loan Amount (USD)
$ 22.22 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 20.00 MLN
Converted using 2019-10-30 exchange rate.
Project Cost (USD)
$ 22.22 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 20.00 MLN
Converted using 2019-10-30 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS May 7, 2020


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Project Description

According to the bank document, the FMO will follow Proparco in this facility. The facility will support Indosurya to grow their SME loan portfolio and contributes to lengthening the maturity of the company's funding. Our facility will enable IIF to grow their SME loan book, which consequently facilitates FMO's contribution to job creation and economic growth.

This also offers potential value add for FMO and Proparco to enhance IIF's E&S standards, which was already initiated by other DFI.

 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
  • PT. Indosurya Inti Finance -- Implementing Company

Founded in 2011 by Mr. Surya Effendy and his son Henry Surya, IIF is a multi-finance company offering loans to SMEs and individuals in Indonesia. IIF is the financing arm of the group that in the past 30 years has provided financial products and services in asset management, securities brokerage, life insurance, saving & loan credit union and rural banking industries.

Contact Information

*There is no further information being disclosed at this stage of the project*

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism