PT MITRA BISNIS KELUARGA VENTURA
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Mitra Bisnis Keluarga Ventura (MBK) is a non-banking financing company that provides Grameen-model microfinance loans working capital to low-income households in Indonesia. Currently, MBK reaches more than 915,689 clients (all female) with a loan portfolio of US$ 136 million. MBK has 3,834 employees, of which the field staff consists of women only. MBK is the first microfinance institution in Indonesia financed by FMO in 2012.
What is our funding objective?
FMO provided an unsecured senior loan facility amounting to USD 15 million, with a tenor of 5 years. The funds will be utilized to finance the growth of the microfinance portfolio in rural areas of Java.
Why do we fund this investment?
FMO considers this transaction to be an inclusive transaction because it provides financial services to the lower segment of the population in Indonesia. FMO's loan will provide for very small working capital (on average only US$200 per client) to the bottom 25% of the population in Indonesia (by income), with the intention of stimulating the development of small business. This working capital is offered to women only.
What is the Environmental and Social categorization rationale?
MBK is classified as a FI-C-client with minimal or no adverse Environmental and Social (E&S) impacts. The following E&S requirements are applicable: (i) Exclusion List, (ii) compliance with local laws and regulations and (iii) application of the IFC Performance Standard 2, Labour and Working Conditions. MBK is SMART Campaign certified, adhering to the Client Protection Principles.
More investments
| Date | Total FMO financing |
|---|---|
| 8/18/2020 | USD 7.50 MLN |
- Website customer/investment
- http://www.mbk-ventura.com
- Region
- Asia
- Country
- Indonesia
- Sector
- Financial Institutions
- Effective date
- 4/25/2017
- End date
- 4/29/2022
- Total FMO financing
- USD 15.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C