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BYD-Bank Mandiri Collaboration Strengthens Indonesia’s Electric Vehicle Ecosystem

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BYD-Bank Mandiri Collaboration Strengthens Indonesia’s Electric Vehicle Ecosystem

Jakarta, CNBC Indonesia – PT Bank Mandiri (Persero) Tbk (BMRI) is collaborating with PT BYD Motor Indonesia to expand the adaptation of electric vehicles in the country. This collaboration was marked by the signing of a Memorandum of Understanding (Memorandum of Understanding/MoU) between the two.

Through this collaboration, Bank Mandiri and BYD provide financing services for the expansion of the electric vehicle ecosystem. This effort is Bank Mandiri’s commitment to sustainable economic growth by prioritizing environmentally friendly business.

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Deputy Main Director of Bank Mandiri Alexandra said, this collaboration is in accordance with Bank Mandiri’s mission to become Indonesia’s Sustainability Champion for A Better Futurewhich was initiated through support for changes in environmentally friendly lifestyles in the community.

“In line with the function of BUMN as agents of change, Bank Mandiri will provide various financial support and strategic financial services that BYD needs, including optimizing subsidiary companies in the financing sector, namely Mandiri Tunas Finance and Mandiri Utama Finance, in order to strengthen the electric vehicle ecosystem to make it more comprehensive, ” he explained, quoted on Friday (16/2/2024).

In addition, this collaboration involves facilitating the procurement of operational vehicles, especially electric vehicles from the BYD group and utilizing digital banking products such as Kopra and Livin’ by Mandiri to strengthen the BYD ecosystem.

He hopes that this collaboration can support the transition towards a zero carbon emission Indonesia (net zero emission/NZE) in 2060. Including accelerating Indonesia’s Green Economythrough the development of financing and sustainable financial products.

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“The signing of this MoU is the beginning of a growing collaboration. Together, Bank Mandiri and BYD will work towards a more sustainable future, where economic growth and environmental preservation go hand in hand,” he added.

For information, until the end of December 2023, Bank Mandiri’s total sustainable portfolio reached IDR 264 trillion with a market share that continues to increase. Of this amount, the green portfolio portion reached IDR 129 trillion, up 21.4% YoY and the social portfolio reached IDR 135 trillion, an increase of 10.6% from the previous year’s position.

In total, Bank Mandiri’s sustainable portfolio has succeeded in increasing 15.4% from 2022. Green financing is directed to focus on sustainable sectors, such as renewable energy including powerful power plants hydro, geothermal, transportation, to the electric vehicle ecosystem from upstream to downstream.

“In line with this, Bank Mandiri has an ESG Desk as point of contact customers, especially segments wholesale. Where we provide sustainable financing solutions such as Green Loan, Sustainability Linked-Loannor corporate-in-transition financing and as an advisor to the company’s customers in ESG development Framework,” concluded Alexandera.

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