IFC may convert loan to 4% shares of BTPN

International Finance Corporation (IFC) have option to convert the loan become a 4% shares of PT Bank Tabungan Pensiunan Nasional Tbk.
BTPN got US$70 million loan from the International Finance Corporation (IFC), the subsidiary of World Bank. The loan separate a two tranche, with US$15.9 million can to convert for 4% shares of BTPN
The micro unit of BTPN focuses on the 13,000 traditional markets in Indonesia. As from the figure, only 2,500 markets have adequate traders (of 300-400 traders).
This year BTPN targets to have 550 units of micro outlets and IDR1.3 trillion credit by end of year. As per June 2009, the micro loan stood at IDR811 billion.