The French Development Agency, or AFD, in cooperation with Bank Mandiri, will commit USD100 million in environment-friendly energy initiatives to Indonesia Thomas Arifin, the bank’s treasury director, confirmed.
Arifin said in a press conference that eight borrowers have already approached the bank for the loan.
The seven- to 10-year credit will finance projects on domestic gas and renewable and geothermal energy efficiency, Tempo Interactive reports.
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AFD Country Director Joel Daligault noted that this is the institution’s first direct loan to a state company. He added that Indonesian banks will be more involved in future endeavors.
