IFC restructures RI firm

IFC restructures RI firm

JAKARTA (JP): The International Finance Corporation (IFC), a
subsidiary of the World Bank, has finished restructuring the
finances of viscose rayon producer PT South Pacific Viscose to
help maintain the company's position as a major supplier in Asia.

The restructure will increase South Pacific's capital and
reschedule its debts, IFC said in a statement on Saturday.

South Pacific, located in Purwakarta, West Java, supplies some
5 percent of the world's viscose staple fiber needs.

IFC previously restructured hotel company PT Hotel Santika
Nusajaya, cement manufacturer PT Semen Andalas and particle board
manufacturer PT Rimba Partikel Indonesia.

IFC is a member of the World Bank Group with a mission to
promote private investments in developing countries in the hope
of reducing poverty and improving people's standard of living.

IFC funds private investments, mobilizes funds in
international currency markets and provides technical help and
advise to government institutions and businesses. (10)