The Islamic Development Bank (IDB) is to extend a US$30m loan to Indonesia's small and medium- sized enterprises through three national banks next year, a senior official with the international institution said.
IDB representative for Indonesia Charmeida Tjokrosuwarno said a mission from head office in Jeddah met with Bank Mandiri, Bank Negara Indonesia (BNI) and Bank Muamalat staff earlier this week to discuss the disbursements.
"We may channel up to US$10m (of funds) through each bank," said Charmeida.
Loans to businesses would be set at a minimum of US$4,500 and a maximum of US$4.5m for each project proposal.
However, the three banks would first be appraised to classify them into two categories.
