Receiving US$100 Million Funding From UOB, Chandra Asri Owned By Conglomerate Prajogo Pangestu Reaffirms Commitment To Fulfilling ESG

Chandra Asri Petrochemical. (Photo: Doc. Antara)

JAKARTA - PT Chandra Asri Petrochemical Tbk continues to obtain new funding to finance sustainable programs. This time, it came from Bank UOB Indonesia.

Funding worth 100 million US dollars was contained in a sustainability-linked trade facility between Chandra Asri, owned by conglomerate Prajogo Pangestu and UOB Bank. The facility is available within UOB's green and sustainable trade finance and working capital framework to support long-term sustainability goals.

Chandra Asri's Chief Financial Officer, Andre Khor said, "The company and UOB share the same commitment to achieving ESG and is an important element of the DNA of both companies.

"This sustainability-related trade funding facility is in line with sustainability goals based on Chandra Asri's corporate sustainability framework and is closely related to the company's short, medium, and long-term strategic decisions", said Andre in his statement, Monday, July 25.

Meanwhile, UOB Indonesia Wholesale Banking Director, Harapan Kasan, said that the funding is a sustainability-linked trade that was first launched by UOB in Indonesia.

"As a bank, we have a responsibility to support customers to achieve sustainability goals. We will continue to provide customers with simple and fast access to sustainable financing solutions that can support the government and society at large to build a sustainable future together", Harapan said.

In line with the United Nations sustainable development goals (SDGs), UOB's sustainable financing framework allows companies to apply for green or sustainability-related banking products without having to develop their own funding framework.

In addition to this green and sustainable trade finance and working capital framework, UOB also has a framework for smart cities, green building developers and owners, and the circular economy.