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Jakarta, October 19, 2023 - The Indonesian Export Financing Institution (LPEI) / Indonesia Eximbank, as the Special Mission Vehicle of the Republic of Indonesia's Ministry of Finance, has provided financing solutions for the export of 6 NC212i aircraft manufactured by PT Dirgantara Indonesia (PTDI) to the Department of National Defense/Armed Forces of the Philippines (DND/AFP) with a total value of USD79 million. The financing was executed under the National Interest Account (NIA) scheme to support the manufacturing of critical national transportation equipment.
The support from LPEI was formalized through the signing of an Export Financing Agreement between LPEI and PTDI for the procurement of the 6 NC212i aircraft, which took place on October 18, 2023, at the LPEI office in Jakarta.
Maqin U. Norhadi, Director of Business Development at LPEI, expressed that the export of these 6 aircraft is a source of pride for Indonesia, as PTDI can produce high-tech strategic industrial products, and LPEI, as a government instrument, is providing financing solutions.
"The financing provided by LPEI to PTDI is a manifestation of the state's commitment to enhancing Indonesia's exports. Exporting aircraft will boost Indonesia's reputation on the global stage, particularly for Indonesian companies engaged in the high-tech strategic aerospace industry," said Maqin.
Maqin explained that LPEI implements the National Interest Account (NIA) program from the government to support the growth of Indonesia's aerospace industry to ensure its competitiveness. "This aligns with LPEI's strategy to strengthen Indonesia's export ecosystem," he added.
The National Interest Account (NIA) is a mandate given by the government to LPEI to provide financing, guarantees, and/or insurance for transactions or projects that are commercially challenging but are deemed vital by the government to support national export policies or programs. To date, LPEI has channeled NIA programs worth IDR 12 trillion to support exports of over 80 products to more than 100 countries.
Wildan Arief, Director of Finance, Risk Management, and Human Resources at PT Dirgantara Indonesia, expressed the company's high appreciation for LPEI's support in the sale of NC212i aircraft produced by PTDI to the Philippines. This marks the second order of aircraft from the Philippines, underscoring the high performance and reliability of PTDI's aircraft.
"We hope that LPEI's financing solution can open the door for more exports of aircraft produced by PTDI to other countries, ultimately contributing to Indonesia's foreign exchange. We hope PTDI can rise again, soar high across the skies, and continue to shine," said Wildan Arief.
The NC212i aircraft is a light transport aircraft with a modern full glass cockpit and autopilot avionics system. It is equipped with winglets, a ramp door, and has a spacious cabin compared to aircraft of its class. Since 2014, PTDI has been the only aircraft manufacturing industry in the world producing NC212i aircraft. To date, a total of 123 units of NC212 series aircraft have been produced and delivered by PTDI to various customers, both domestic and international, out of a total population of 606 units of NC212 series aircraft worldwide.
LPEI's financing agreement with PTDI represents the third facility provided since 2018. Previously, LPEI provided two working capital export facilities to support PTDI's contracts with Nepal, including 1 unit of CN235-220 Military Transport worth USD30 million, and a contract with Senegal for 1 unit of CN235-220 Maritime Patrol Aircraft (MPA) worth USD24 million. Both of these aircraft units were successfully delivered in 2021.
Media Contact:
LPEI / Indonesia Eximbank
Chesna F. Anwar
Corporate Secretary – Indonesian Export Financing Institution
Ph.: (021) 39503600
Email: corpsec@indonesiaeximbank.go.id
Web: https://www.indonesiaeximbank.go.id
PT Dirgantara Indonesia
Gemma Grimaldi
Corporate Secretary – PT Dirgantara Indonesia
Ph.: (022) 6055165
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