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IFC support to PT. KB Finansia multi finance to help Indonesian businesses, drive economic recovery [EN/ID]
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Jakarta, Indonesia, December 21, 2020 Micro, small and medium sized businesses (MSMEs), in Indonesia will benefit from a timely investment by IFC, a member of the World Bank Group, which aims to address liquidity issues in the nation s multi-finance sector given the COVID-19 pandemic. This will help preserve jobs, boost market resilience, and contribute to a sustainable and inclusive domestic economic recovery.
IFC will provide a loan of up to $50 million to PT. KB Finansia Multi Finance (KBFMF), a key player in Indonesia s multi-finance sector and backed by KB Kookmin Card, one of the largest specialized credit finance companies in South Korea. This loan will enable KBFMF to raise long-term IDR-denominated funding, diversify its funding base, and strengthen its balance sheet. It will further allow KBFMF to continue lending to micro, small, and medium enterprises (MSM