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Indonesian Export-Import Agency receives credit worth US$200 million dollars from South Korea - My Indonesia 

The Indonesian Export-Import Agency (LPEI) or Indonesia Eximbank received credit worth US$ 200 million dollars with a two-year tenor from the Export-Import Bank of Korea (KEXIM).

Executive Director III of LPEI, Agus Windiarto in his statement on Wednesday (23/12) said that the synergy between the Indonesian Export-Import Agency-LPEI and the Export-Import Bank of Korea -KEXIM is believed to strengthen the existing cooperation. The support during the pandemic proved that the two institutions are able to support each other to cooperate in a bid to restore the economy.

The credit facility entitled ‘Master Interbank Credit Facility Agreement’ was signed on Tuesday (22/12) virtually at the LPEI Office. Agus Windiarto said that the cooperation is expected to strengthen the development of bilateral trade of both countries and further enhance the partnership between Eximbanks that are members of the Asian Exim Banks Forum (AEBF). He added that LPEI welcomes the opportunity to collaborate with Korea Eximbank after previously with China Eximbank even during these difficult times.

On this occasion, LPEI hopes to meet the needs of exporters and enable entrepreneurs to develop business capacity and ultimately help increase national exports.

Meanwhile, Chairman of the Board of Directors concurrently LPEI Executive Director, Daniel James Rompas said that LPEI continues to provide support to the Small and Medium Enterprises segment and domestic corporation to penetrate the export market. With KEXIM's support, it is hoped that the role currently given to LPEI to encourage economic growth through the National Economic Recovery program can be further enhanced.

Daniel James Rompas also emphasized that the loan facility is also a form of trust from international financial institutions to the LPEI in gaining access to funding to support foreign trade activities.