Infrastructure Financing
Korea Development Bank (KDB) announced that it has signed a memorandum of understanding (MOU) with PT Sarana Multi Infrastruktur (SMI), an infrastructure financing company owned by the government of Indonesia, at the SMI headquarters in Jakarta, Indonesia, on November 22 (local time) to build a mutual partnership.
Under the agreement, KDB will set up a Korea Desk at the SMI headquarters, and strengthen ties in business sectors such as project financing (PF) and syndicated loans. With opening the Korea Desk, KDB plans to provide loans and PF to Korean firms, which conduct business in the nation, and local sound businesses, seeking to expand its business areas.
PT SMI is a state-owned enterprise established in 2009 to promote the infrastructure investment in Indonesia. It usually offer PF and loans to businesses. It will become the Indonesia Development Bank (LPPI) within the next year.
Meanwhile, KDB has been accelerating advancement overseas since the inauguration of its chairman and CEO Lee Dong-geol. Lee said, “With the latest agreement after opening the Korea Desk within State Bank of India (SBI) in August, we have completed “Southeast Asia Financial Belt,” which connects countries including Singapore, Vietnam, Myanmar, Thailand, the Philippines, Indonesia and India.”