Bank DKI Together With 12 Regional Banks Distributes Investment Loans Worth Rp2 Trillion

PHOTOS OF THE DKI BANK DOCKS

JAKARTA - Bank DKI together with 12 other regional banks have disbursed a syndicated investment loan of IDR 2 trillion to PT Indah KIat Pulp & Paper.

Regional Development Banks throughout Indonesia (BPD SI) involved in addition to Bank DKI are Bank Sumut, Bank Jatim, Bank Nagari, Bank Sumsel Babel, Bank Maluku Malut, Bank Papua, Bank Kalteng, Bank Sulselbar, Bank Kalsel, Bank Bengkulu, Bank NTT and Bank of North Sulawesi Go.

Bank DKI President Director Fidri Arnaldy said that the syndicated loan disbursement was aimed at refinancing the factory located on Jalan Raya Minas-Perawang kilometer 26, Pinang Sebatang Village, Tualang District, Siak Regency, Riau.

"In the credit syndication, Bank DKI is appointed as the Mandated Lead Arranger, as well as the facility agent, guarantee agent, escrow agent and creditor," said Fidri in his statement, Monday, November 15.

Fidri continued, this syndicated loan disbursement is based on considerations regarding the pulp & paper industry in Indonesia which is still considered very prospective. Given, Indonesia has a comparative advantage in terms of productivity of raw materials.

"So, this makes one of the countries that are the largest sources of raw materials with pulp production being ranked 8th in the world and 6th in the paper industry," he said.

Fidri explained that Bank DKI distributed loans with a portion of Rp500 billion. Then, other BPDs that participated were Bank Sumut and Bank Jatim each with IDR270 billion, Bank Nagari and Bank Sumsel Babel IDR175 billion.

Furthermore, Bank Maluku Malut Rp110 billion, Bank Papua Rp95 billion, Bank Kalteng, Bank Sulselbar and Bank Kalsel each Rp85 billion and Bank Bengkulu, Bank NTT and Bank SulutGo each Rp50 billion. Thus, the total participation is IDR 2 trillion.

"Through the signing of this syndicated credit agreement, it is hoped that it can be one of the stimulus for economic growth in the country during this pandemic," he added.