BBRI - Provides credit facility to Indonesia Infrastructure Finance

BBRI - Provides credit facility to Indonesia Infrastructure Finance Bank Rakyat Indonesia (BBRI) provided a credit facility to Indonesia Infrastructure Finance (IIF) to strengthen the funding capacity for strategic projects in Indonesia. The signing of this agreement was carried out by BRI's Wholesale and Institutional Business Director Agus Noorsanto and IIF's Interim President Director & Chief Financial Officer Rizki Pribadi Hasan at the BRI Head Office. In this collaboration, IIF obtained a Non-Cash Loan (NCL) facility worth IDR500 bn and a Forex Line facility of USD50 mn from BRI. This facility will strengthen IIF's ability to provide guarantees to third parties and support the financing of strategic sustainable infrastructure projects in Indonesia. The Non-Cash Loan (NCL) facility allows IIF to issue various guarantee instruments such as Bank Guarantees, Letters of Credit (L/C), and Standby L/C (SBLC) that are needed by IIF's clients. With the guarantees from IIF, clients will be more confident in carrying out the ongoing infrastructure projects. Meanwhile, the Forex Line facility will provide flexibility for IIF in conducting foreign exchange transactions related to the financing of infrastructure projects. (Source : Cnbc Indonesia)