Bank OCBC NISP secures Rp 2.75 trillion funding from IFC
JAKARTA - IFC, a member of the World Bank Group, announced a loan of up to Rp 2.75 trillion (equivalent to USD200 million), which is a private arrangement between Bank OCBC NISP and IFC.
This is part of the Bank OCBC NISP Sustainability Bond Program which consists of green bonds and gender bonds. Funds obtained from gender bonds will enable the Bank to increase lending to women entrepreneurs and women-owned small and medium enterprises (WSMEs). Green bonds will support Bank OCBC NISP to increase the distribution of environmental friendly financing, especially for the development of green projects and green property financing.
"Increasing women's participation in the Indonesian economy and reducing gender inequality is part of IFC's main strategy in Indonesia. The loans provided by IFC in support of the Bank OCBC NISP Sustainable Financing Program, have the aim of empowering women and SME entrepreneurs and also to encourage green / environmentally sound projects. This shows IFC's commitment to encourage sustainable economic growth in Indonesia," said Hans Peter Lankes, Vice President, Economics and Private Sector Development, IFC.
This gender bond collaboration is the first in Indonesia, and the second in Asia-Pacific, after the issuance of the Ayudhya Bank gender bonds in 2019 in Thailand, which is also supported by the IFC. Bank OCBC NISP's green bond this time is a continuation of the success of the first green bond in 2018 that has been distributed fully. The first green bond was also fully supported by IFC. (LM)