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State-owned bank BNI readies financing program for EVs

Jakarta Globe - March 11, 2023

Jakarta – State-owned bank BNI recently announced that it had prepared a special financing scheme for people who wish to own electric vehicles or EVs.

The Indonesian government is currently working on an EV ecosystem in a bid to reach net zero emissions by 2060 or sooner. Early this week, the government announced that it would provide Rp 7 million (around $451) in incentives for the purchase of new electric motorbikes.

The Financial Services Authority (OJK) has also rolled out a number of incentives for the banking sector for EV purchases, as well as the upstream industry players.

According to a press release, BNI, along with other state-owned banks including BSI, have pledged to support financing that leads to the use of renewables.

Corina Leyla Karnalies, the director of consumer banking at BNI, said that the bank had already prepared a special financing program for EV ownership. And BNI customers can already use this scheme. BNI has also readied a financing scheme for people who are not yet a customer.

Corina added that these programs would provide the best offers with competitive interests, ease, and fast processing.

"We welcome the collaboration between [state-run electricity firm PLN] and all state-owned banks, including BNI. We will continue to analyze how we can further strengthen our solutions and services to drive EV adoption and the upstream EV industry players in Indonesia," Corina was quoted as saying in a recent press statement.

BNI has also teamed up with PLN and single-agent brands to promote EV use on the electricity firm's app PLN Mobile.

"This is part of BNI's concrete efforts, as the pioneer for green banking in Indonesia, to support the government's EV ecosystem program for a better Indonesia," Corina said.

Sustainable finance accounts for 28.6 percent of BNI's total loans. All that financing goes to industries that embrace sustainability, among others, by producing products and services that bring a positive impact to the environment.

Source: https://jakartaglobe.id/business/stateowned-bank-bni-readies-financing-program-for-ev