Project detail - PT MITRA BISNIS KELUARGA VENTURA

PT MITRA BISNIS KELUARGA VENTURA

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Who is our client

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.

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 we fund this project

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.

Environmental and social 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
12/16/2014 USD 7.50 MLN
Website client
http://www.mbk-ventura.com
Region
Asia
Country
Indonesia
Sector
Financial Institutions
Signing date
4/25/2017
Total FMO financing
USD 15.00 MLN
Fund
FMO
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