May 10, 2013 / 1:06 AM / 5 years ago

MALAYSIA PRESS-Exim Bank to finance more projects in Indonesia-Malaysian Reserve

Export-Import Bank of Malaysia Bhd (Exim Bank) plans to finance up to four infrastructure projects in Indonesia as it seeks to increase its lending to 5 billion ringgit ($1.68 billion) this year.

Director and chief executive officer (CEO) Adissadikin Ali said the bank is already sending feelers to finance the Indonesian projects with related parties.

“We see Indonesia as a place that has a need for electricity, and we are looking at financing some renewable energy projects there,” he said.

He said Exim Bank, which is a unit of the Ministry of Finance Inc, is confident about reaching its target of 5 billion ringgit loans despite the sluggish economic situation.

“The increase in this demand would be supported by higher loan disbursements, which is targeted to grow at least 30 percent annually until 2015,” he said. -Malaysian Reserve


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NOTE: Reuters has not verified these stories and does not vouch for their accuracy.

$1 = 2.9740 Malaysian ringgit

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