Indonesian Eximbank Receives $200 Million Loan from Korean Eximbank

JAKARTA, KOMPAS.com – Indonesia Eximbank, also known as the Indonesian Export Financing Institution (LPEI), has received a $200 million credit facility for a two-year tenor from state-run Export-Import Bank of Korea (KEXIM).

LPEI Managing Director III Agus Windiarto said the funding would not only strengthen the bilateral trade between the two countries but also enhance the partnership among members of the Asian Exim Banks Forum (AEBF).

“LPEI welcomes the opportunity to collaborate with Korea Eximbank following the collaboration with China Eximbank during these difficult times,” said Agus in a statement on Wednesday, December 23.

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“The cooperation will enhance our collaboration among members of the Asian Exim Bank Forum,” he added.

He further added that the funding is projected to meet the needs of exporters and provide the opportunity for entrepreneurs to develop their businesses that will increase national exports.
“We express our highest appreciation for KEXIM’s support and we hope that LPEI can do our best in carrying out its mandate,” he said.

Meanwhile, LPEI Head of the Board of Directors and Executive Director Daniel James Rompas said that he will continue to provide support to the domestic small-medium enterprises and corporates to enter the export market.

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“It is hoped that the LPEI can further enhance its role to promote the economic growth through the National Economic Recovery (PEN) program,” he said.

(Writer: Rully R. Ramli | Editor: Yoga Sukmana)

Source: https://money.kompas.com/read/2020/12/23/163000526/eximbank-dapat-suntikan-200-juta-dollar-as-dari-bank-korea.