Eximbank to open branch office in Singapore

The Jakarta Post | Sat, 03/14/2009 7:07 PM  

Indonesia's Eximbank, which will execute the Indonesian export financing institution (LPWI) scheme, is planning to open branch offices in Singapore and Saudi Arabia in order to facilitate Indonesian exports, Bank Ekspor Indonesia president director Arifin Indra said as reported by Antara news agency. 

"The branch office in Singapore will be opened next year. At home three marketing branch offices will be opened in Medan, Makassar and Surabaya this year," Arifin Indra said over the weekend. 

Bank Ekspor Indonesia (Indonesia export bank) is a bank which is assigned to prepare the operation of Indonesia Eximbank and to popularize Law No. 2 2009 on LPEI, in an effort to encourage exports amid the current global economic crisis. 

With the operation of Indonesia Eximbank, scheduled on July 1, 2009, Bank Ekspor Indonesia will be dissolved. All of its assets and liabilities as well as its rights and responsibilities will fall under  the responsibility of Indonesia Eximbank.