To increase access to finance for small businesses in Indonesia and boost digital inclusion in Thailand, IFC today announced an initiative with KB Kookmin Card Co. (KBC), a leading credit card-issuing company in the Republic of Korea, to support the company's small and medium enterprise (SME) and mobile financing growth in the two countries.
As part of the financing package, IFC is providing a US$100m loan in Indonesian rupiah equivalent to PT KB Finansia Multi Finance (KB FMF), an Indonesian multi-finance company which KBC has a majority stake in, and a US$50m loan in Thai baht equivalent to KB J Capital Co. Ltd (KBJ), a Thai non-bank finance company of which KBC is also the majority owner.
