JAKARTA. PT Indonesia Infrastructure Finance (IIF), an infrastructure financing company indirectly owned by the Government of Indonesia, has obtained a revolving promissory loan facility from PT Bank Maybank Indonesia Tbk (BNII) worth IDR 500 billion.

Reynaldi Hermansjah, President Director of IIF, said that the agreement regarding the loan facility was signed on July 28, 2023. "Until now, IIF has not made a withdrawal," said Hermansjah, in an information disclosure on the Indonesia Stock Exchange (IDX).

In addition, IIF and BNII also signed a Foreign Exchange Transaction Agreement (PTVA). The value of the agreement signed by IIF and BNII is US$ 6 million or around IDR 92 billion.

The plan, said Hermansjah, is that IIF will use all of these facilities to support its business expansion plans. "Especially in providing the required funds for projects financed by IIF," said Hermansjah.

According to infinancials.com data, IIF was founded in 2020. Currently, the Indonesian Government through PT Sarana Multi Infrastruktur (SMI) controls 30% of IIF's shares. Then the Asian Development Bank owns 19.99% of shares, International Finance Corporation (IFC) 19.99%, KFW DEG 15.12%, and Sumitomo Mitsui Banking Corporation (SMBC) 14.90%. (KR/LM)