BAPINDO IV

closed

The Fourth BAPINDO Project will be used to help cover the foreign exchange requirements of subprojects to be financed by BAPINDO over the next two years; apart from direct imports, the proceeds of the loan will be utilized by BAPINDO to finance the foreign exchange component of domestically produced capital goods estimated at 60% of the invoice price of such goods, 50% of civil works and 40% of the cost of locally procured vehicles. In order to support BAPINDO's efforts to provide financial assistance to small- and medium-scale, relatively labor-intensive enterprises, a component of $15 million will be earmarked for financing specifically: (a) enterprises with fixed assets not exceeding $1.0 million; or (b) projects generating employment at a fixed investment cost per job not greater than $12,000. In addition, out of the proceeds of the loan, $100,000 will be utilized to finance the services of a project promotion specialist and a staff training program to help BAPINDO improve its project promotion capability.