US Export-Import Bank to finance Indonesian banks

11 Indonesian banks to claim $1bln as US taps Indonesian market for exports through Ex-Im Bank.

The Export-Import Bank of the United States (Ex-Im Bank) announced Friday that it has given initial approval to 11 banks in Indonesia to receive financing as part of the banking facilities amounting to US$1 billion to support US exports to Indonesia.

The 11 banks are Indonesia Eximbank, Bank Mandiri, Bank Negara Indonesia, Bank Rakyat Indonesia, Bank Central Asia, Bank Danamon, Panin, Bank CIMB-Niaga, Bank OCBC Indonesia, Bank Internasional Indonesia and Bank UOB Buana.

Chairman and President of the US Ex-Im Bank, Fred P. Hochberg, through a press statement released by the US Embassy in Jakarta, announced a new banking facility on Friday at a meeting with the Indonesian Coordinating Minister for the Economy in Jakarta, according to the Jakarta Post.

"With a diverse economy that continues to grow, Indonesia offers huge opportunities for US exporters in various sectors. This banking facility will allow Indonesian companies to access financing of Ex-Im Bank support from their local banks and help Ex-Im Bank approved the transaction faster," said Hochberg.