Indosurya Inti Finance (“IIF”), which was set up in 2011 by Mr. Surya Effendy and his son Henry Surya, is an Indonesian non-banking financial institution (NBFI) that offers loans to SMEs and individuals in Indonesia. IIF is part of the Indosurya Group, which has been offering financial products and services in the asset management, securities brokerage, life insurance and rural banking sectors for the last 40 years.
The loan amounts to a total of EUR 50m and has a 5-year maturity. The operation is being led by Proparco in partnership with FMO, which will participate with a EUR 20m loan.
This loan will be allocated to PT Indosurya Inti Finance, a non-banking financial institution set up in 2011 that focuses on the activity of financing Indonesian SMEs.
Under this operation, Proparco will be providing added value to IIF’s business model via a technical assistance project focusing on the development of financial risk management tools.
By helping SMEs gain access to financial services and products, this project should create or maintain 8,140 jobs in Indosurya’s client SMEs and contribute to economic growth in a country where opportunities to finance SMEs are not exploited by banks.
This information is given at the time of signature, without prejudice to any developments in the operation/project