CIMB Niaga Provides Sharia Green Financing to Support IKPT's Sustainability Initiatives

Sustainable Financing for Renewable Energy Projects

PT Bank CIMB Niaga Tbk (BNGA) has demonstrated its commitment to sustainable financing by providing a USD 18.5 million Sharia-green trade finance facility to PT Inti Karya Persada Tehnik (IKPT). This significant financial support enables IKPT, an affiliate of Japan's Toyo Engineering Corporation (TOYO), to continue its work as a leading Engineering, Procurement, & Construction (EPC) contractor in the renewable energy sector, with a particular focus on geothermal energy.

Alignment with CIMB Niaga's Sustainability Goals

The provision of this Sharia-green trade finance facility is in line with CIMB Niaga's purpose of Advancing Customers & Society. By supporting IKPT's sustainability initiatives, CIMB Niaga is not only fostering the growth of renewable energy projects but also contributing to the broader goal of environmental sustainability. This transaction showcases CIMB Niaga's dedication to providing innovative and sustainable financial solutions that benefit both its customers and the wider community.

Impact on Indonesia's Renewable Energy Sector

The financing provided to IKPT is expected to have a positive impact on Indonesia's renewable energy sector. As a leading EPC contractor, IKPT plays a crucial role in the development of geothermal energy projects, which are vital for Indonesia's transition to cleaner energy sources. By supporting such projects, CIMB Niaga is contributing to the country's efforts to reduce its carbon footprint and achieve its sustainability targets.