PROJECT

Projects

Summary of Investment Information

Project Number

40365

Company Name

MITRA BISNIS KELUARGA VENTURA, PT

Date SPI Disclosed

Nov 14, 2017

Country

Indonesia

Region

East Asia and the Pacific

Projected Board Date

Dec 29, 2017

Environmental Category

FI-3 - No Impact

Status

Hold

Last Updated Date

Sep 1, 2018

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Sector

Microfinance and Small Business - Non Commercial Banking

Project Description

The proposed project consists of a senior syndicated loan to PT Mitra Bisnis Keluarga Ventura (MBK or Company), IFC’s existing portfolio client and a leading microfinance institution (MFI) in Indonesia. MBK started operations in 2003 and as of September 30, 2017, operates with an asset base of around US$179 million, serving close to 1 million clients. MBK targets the bottom 25 percent of the population in Indonesia by income, with a focus on rural women not traditionally banked by commercial banks and other finance institutions. The funding shall be used to support the growth of the Company’s microfinance portfolio, mainly targeting underserved rural women borrowers.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation