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.
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.