BANKING - BII, IFC cooperate to empower businesswomen

JAKARTA: Publicly listed bank BII signed an agreement with the International Finance Corporation (IFC), the World Bank affiliate for the private sector, on Wednesday to enhance the bank’s products and services for women entrepreneurs to help women to get easier access to financing for their businesses.

BANKING - IFC Helps Expand Access to Finance for Indonesian Women and Small Medium Enterprises

Indonesia, Jakarta, September 21, 2010— PT Bank Internasional Indonesia (BII) and IFC, a member of the World Bank Group, have signed a cooperation agreement to enhance the bank’s products and services towards female entrepreneurs, allowing women to obtain financing for their businesses more easily.

As part of the Cooperation Agreement, IFC Indonesia will advise BII as it sets out to become the bank of choice for women-owned businesses in Indonesia. Through this initiative, IFC will assist BII to improve its reach to both the small medium enterprises and women entrepreneurs.

BANKING - BII Seeks US$75 Million Financing from IFC

Bank International Indonesia (BII) seeks financing package of up to US$75 million from International Finance Corporation (IFC), an investment arm of World Bank, to finance its expansion program.

According to IFC document, BII expects IFC to provide a senior local currency loan facility to support the bank's expansion in the small medium enterprises (SME) sector, with a particular focus in growing its presence in the poorer provinces in Indonesia and by growing an existing program geared towards BII's female customer base.