World Bank Group member International Finance Corporation (IFC) has proposed a $300-million senior debt facility directly and indirectly to Bank KB Bukopin, the Indonesian subsidiary of South Korea’s largest commercial bank, KB Kookmin Bank.
The loan will be structured as a social bond, the first of its kind to be solely dedicated to supporting socially-oriented financing in line with the eligibility criteria set under the International Capital Market Association’s Social Bond Principles (SBP).