"We are optimistic the asset target of Rp31.83 trillion would be met by December 2012."
Jakarta (ANTARA News) - Indonesia Eximbank has recorded growth in its financing by 42.51 percent from Rp17.38 trillion in August 2011 to Rp24.77 trillion in August this year.

"Although the country`s export performance in the first semester this year was not quite good export financing however still grew quite well," the export financing institution`s executive director, I Made Gde Erata said in a business meeting with customers here on Thursday.

He said Eximbank`s various facilities to increase national export performance include working capital financing for domestic corporations and small and medium businesses and investment financing for modernizing machinery and several projects financing.

Financing composition consists of 47 percent in foreign currencies and 53 percent in the local rupiah currency spreading in various industrial sectors, he said.

"Ten big industrial sectors that have received financing are textile (10.15 percent), crude palm oil (9.91 percent), oil palm plantation (7.49 percent), sea transportation (5.22 percent), crumb rubber (4.67 percent), furniture (3.36 percent), air transportation (3.09 percent), coal mining (2.42 percent), food industry (2.42 percent and basic metal industry (2.42 percent)," he said.

With the financing growth Indonesia Eximbank has recorded a total asset of Rp30.99 trillion by August 2012, up by 35.6 percent from Rp22.85 trillion in August last year.

"We are optimistic the asset target of Rp31.83 trillion would be met by December 2012," he said.

The positive financial performance has made the state-owned special financial institution has won an "AAA" rating with a stable outlook from rating agency PT Pefindo and "BB+" S&P.

Indonesia Eximbank has also been recorded as having successfully reduced its bad debt from 3.25 percent in December 2011 to 1.38 percent in August 2012.

The financing target set for Indonesia Eximbank by December this year at Rp24.5 trillion has been achieved.

"We are projecting the financing by the end of 2012 to reach around Rp25 trillion, bit higher than the target," he said.
(T.P012/H-YH/S012)

Editor: Priyambodo RH
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