WASHINGTON, D.C., April 27 -- The International Finance Corporation (IFC) has signed an investment agreement with P.T. Bunas Finance Indonesia, a multi-finance company, which will provide lease finance for the purchase of capital equipment to medium-sized businesses in the industrial sector. IFC's financing, which is expected to benefit over 160 Indonesian firms in areas such as wood products, mining, plantation, marine, and infrastructure, consists of a loan of up to US$10 million for IFC's own account and a syndicated loan of up to US$6 million. With eleven branches throughout the country serving remote geographic areas, P.T. Bunas Finance Indonesia is majority owned by the Ongko Group, a prominent Indonesian business group and an existing client of IFC. "Part of IFC's capital markets development strategy is to support small and medium enterprises by addressing the shortage of debt funding for leasing and finance companies, encouraging private investment, and accessing private lending sources," said Mr. Har
old Rosen, Acting Director and Regional Manager, Southeast Asia in IFC's Asia Department. IFC is a member of the World Bank Group and is the largest multilateral source of equity and loan financing for private sector projects in developing countries.
