International Finance Corporation (IFC), a member of the World Bank Group, will provide up to $25 million to PT Summit Oto Finance, one of the largest motorcycle-financing companies in Indonesia.
IFC loan's will help Summit Oto expand access to financing of motorcycles, which are critical for the business needs and mobility of micro and small businesses and low-income households.
IFC also prepare US$175 million sindication loan to Summit Oto. IFC’s investment also will help Summit Oto Finance focus its growth on frontier provinces and women borrowers in Indonesia. Last year, IFC’s finance Summit Oto, includes a senior loan of up to $50 million equivalent in rupiah.
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