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IFC grants a USD 300 million loan to Bank KB Bukopin

14 June 2022 14:36

JAKARTA – International Finance Corporation (IFC) channels out a loan of USD 300 million in total to the Singaporean Branch of KB Kookmin Bank Co Ltd (KBSG) and PT Bank KB Bukopin Tbk (BBKP). This facility is realised gradually in two terms on May 31, 2022, and June 10, 2022.

Helmi Fakhrudin, Director of Bank KB Bukopin, claimed that 20% of said loan will be directed to Bank Bukopin, while the bigger 80% will be utilised by KB Kookmin Bank Co Ltd (KBHQ). “KBHQ will then lend the money to KBSG, which will be forwarded to the company. Therefore, the company will receive USD 300 million in total,” he explained in the information disclosure quoted Tuesday (14/6).

Bank KB Bukopin is eligible for IFC’s investment. The entire loan investment will be utilised to fund socially-oriented financing in order to accelerate the post-COVID-19 recovery. “The company will channel financing to debtors that show interests in the environment and social causes,” Fakhrudin continued.

The period of this loan last three years, equipped with an interest based on INDOGB quotation of 3 years, including 140 basis points, without guarantee. This loan facility is equivalent to IDR 4.29 trillion, which is more than 20% of Bank Bukopin’s equity of IDR 13.20 trillion reported in December 2021. (LK/ZH)

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