Ex-Im Bank lends RI firm

Ex-Im Bank lends RI firm

TOKYO (AFP): The Export-Import Bank of Japan said yesterday it
and 16 private banks would extend US$210 million in loans to an
Indonesian cement maker, PT Indo Kodeco Cement.

The loans are the first of their kind to incorporate political
risk, the governmental bank said.

Under the scheme, a borrower can be exempted from repayments
in the event of a major crisis, including war and revolution.
The Export-Import bank will extend $126 million, with the rest
being provided by the 16 private banks including Fuji Bank Ltd,
it said.

The loans will be used to build a cement plant in Tarjun on
Kalimantan Island, the bank said.

With recent economic growth in the country, the Indonesian
cement market is expected to face a "considerable supply
shortage," it said.