According to the bank document, "The proposed project entails an investment in a medium-term debt instrument, which is under a private placement arrangement between PT Bank OCBC NISP Tbk (“OCBC NISP” or the “Bank”) and IFC, mainly to finance green projects and women-owned small and medium enterprises (“WSMEs”).

The proceeds of the proposed investment will be mainly used to support the Bank’s lending program to climate-friendly projects which includes, energy efficiency projects and green building and to support the Bank’s increasing focus in serving woman entrepreneurs and customers. In addition, IFC as implementing entity of the Market Accelerator for Green Construction (“MAGC”) Facility and the Women Entrepreneurs Finance Initiative (“We-Fi”) is expected to provide up to US$4.17 million in the form of performance-based incentives (“PBI”).

OCBC NISP is headquartered in Jakarta, Indonesia. The proceeds of the proposed investment mainly will be used to support the Bank’s lending program to climate-smart projects and WSME across Indonesia."

The proposed investment consists of IFC’s subscription, for its own account, totalling up to IDR2.75 trillion (US$200 million equivalent) of medium-term debt instrument to be issued by OCBC NISP to finance green projects and WSMEs. The debt will have a tenor of five years, and will be senior, unlisted, unsecured, and denominated in IDR.

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

An extended list of private actors is available in a separate file. 

The Bank was established in 1941, the fourth oldest bank in Indonesia. The Bank is 85% owned by the OCBC Overseas Investment Pte. Ltd, a 100% subsidiary owned by the Oversea-Chinese Banking Corporation Limited (“OCBC Bank”), listed in Main Board of the Singapore Exchange, with the rest 14.92% stake held by public investors. 

1/ Project Contact

PT Bank OCBC NISP Tbk
Investor Relations
Investor Relations
+62 (0) 21 - 255 33 888
ir@ocbcnisp.com
OCBC NISP Tower
Websitehttps://www.ocbcnisp.com/

2/IFC Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

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/