$10m facility for Mandiri<\/p>\n
JAKARTA (JP): The Dai-ichi Kangyo Bank Ltd. Singapore has
\nagreed to provide state Bank Mandiri with a US$10 million
\nrevolving credit facility under the Japanese Minister of
\nInternational Trade and Industry (MITI) trade insurance.<\/p>\n
The scheme, according to Bank Mandiri, insures Bank Mandiri
\nletters of credit (L\/C) payable at the Dai-ichi Kangyo to
\nJapanese exporters.<\/p>\n
Letters of credit are used by Indonesian companies to pay for
\nconsumer and capital goods ordered from Japanese companies.<\/p>\n
Under the scheme, Indonesian companies can delay payment for
\nconsumer goods for up to 180 days, and for capital goods for up
\nto 360 days.<\/p>\n
Cost of production can also be reduced under Bank Mandiri's
\ninterest rates if an L\/C is issued in Japanese yen, it said.<\/p>\n
\"Using the facility will aid importers as L\/Cs payable in
\nJapan will no longer need to be confirmed by a first-class bank,\"
\nthe bank said in a statement. (10)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/10m-facility-for-mandiri-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}