Jakarta, 04.03.2013 – During the visit of the Chairman of the Islamic Development Bank (IDB) Group to Indonesia last week, the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the IDB, signed two financing agreements with the country’s private sector in the fields of SMEs (Small and Medium Enterprises) and power generation.

The first financing agreement, a syndicated Murabaha facility worth an amount of up to US$ 50 million, was signed with PT Mandala Multifinance Tbk (MMF) to support the Small and Medium Enterprises (SMEs) in Indonesia. The agreement was signed by Mr. Khaled Al Aboodi, CEO, ICD, in the presence of Minister of Finance of Indonesia, H.E. Mr. Agus Martowardojo, Dr. Ahmad Mohamed Ali, the Chairman of the IDB Group and other key officials.

On the occasion, the ICD CEO expressed hope that the landmark transaction involving regional and local banks in the Kingdom of Saudi Arabia, Qatar, Indonesia, Malaysia and Brunei will help ICD to further increase SME support and enhance their engagement with the national economy. He further stated that the funds raised through this facility will enable MMF to provide additional financing to the SMEs and assist them in expanding their businesses.

Also, the ICD CEO put his signature to a principal terms agreement with PT Bajradaya Sentranusa (“BDSN”), the independent power producer in Indonesia, for an amount of up to US$ 35 million under the existing facility lead arranged by PT Bank International Indonesia Tbk (BII), Maybank Investment Bank Bhd and PT Bank Maybank Syariah Indonesia (MSI). ICD is to join other existing participating financiers in the transaction; PT Bank Bukopin Tbk and Lembaga Pembiayaan Ekspor Indonesia (Indonesia
Eximbank).

Under the 10-year facility, ICD has agreed to invest with the existing financiers and the proceeds will be used to finance the construction of the 2x90 MW Asahan 1 Hydroelectric Power Plant in Sumatra west of the country.

Pledging to further strengthen ICD’s partnership with Indonesia, Mr. Khaled Al Aboodi, ICD’s CEO said the agreements enhance ICD’s commitment to the Indonesian private sector marking an important chapter in the continued growth of ICD’s presence in the country.