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Indonesia Eximbank inks cooperation pacts with foreign counterparts

Lembaga Pembiayaan Ekspor ID, or Indonesia Eximbank, signed agreements with the Export-Import Bank of Korea, Export-Import Bank of China and Australia's Export Finance & Insurance Corp.

The Southeast Asian policy bank said in a Nov. 9 release that it signed a credit line facility agreement with Korea Eximbank, under which the latter will offer US$200 million in financing for the purchase of capital goods, raw materials or services from South Korea.

It also signed a framework agreement with China Eximbank for the issuance of yuan-denominated panda bonds, and a cotton financing facility agreement with Australia's EFIC, which aims to help Indonesian exporters buy raw cotton materials from the Pacific nation.