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Jakarta Post

Launching Indonesia Eximbank

  • The Jakarta Post

  /   Fri, September 4 2009   /  09:32 am

The Export Financing Agency, more popularly known as Indonesia Eximbank, that the government launched on Tuesday is the country’s first full-fledged credit agency for financing foreign trade, similar to its counterparts in developed economies, such as the Ex-Im Bank in the United States.As the first trade-financing institution, whose establishment is based on a special law (Law No.2/2009), Indonesia Eximbank is not a conventional bank like.Even though Eximbank is still required to maintain strict risk management and good corporate governance like other commercial banks, it is mandated to provide financing services with different terms and conditions from ordinary loans and credit based on export transactions.Operating with an initial equity capital of Rp 4 trillion (US$400 million), which will be replenished with another $200 million next year, Eximbank will be especially helpful to me...