Indonesian electric motorcycle maker ALVA has secured an additional $20 million in sustainable trade finance from Standard Chartered Indonesia. In a separate update, Swiss impact investor responsAbility Investments AG has extended a $15-million loan to Thai non-bank lender Ngernturbo Public Company Limited.
ALVA secures additional $20m trade finance facility
Indonesian electric motorcycle maker ALVA has secured an additional $20 million in sustainable trade finance from Standard Chartered Indonesia to support the procurement of raw materials and components for production.
The facility for PT Electra Mobilitas Indonesia (EMI), ALVA’s operating company, builds on a financing partnership established in 2022. The latest increase is intended to support the company’s business expansion and strengthen its supply chain, according to its statement.
The financing comes as ALVA steps up efforts to expand production, distribution and charging infrastructure in Indonesia.
Donny Donosepoetro, chief executive of Standard Chartered Indonesia, said the bank’s continued support for EMI also reflected its backing of the broader transition efforts of Indonesian conglomerate Indika Energy, which is associated with ALVA.
ALVA chief executive Purbaja Pantja said the additional financing would give the company greater flexibility to expand its business. The company is also strengthening its manufacturing capabilities and developing new products in Indonesia, he added.
responsAbility backs Thailand’s Ngernturbo with $15m debt financing
Swiss impact investor responsAbility Investments AG has extended a $15 million loan to Thai non-bank lender Ngernturbo Public Company Limited to expand lending to borrowers underserved by commercial banks.
The three-year senior unsecured facility was disbursed on October 1, responsAbility said in a statement. The investment marks its first financing for Ngernturbo, which listed on the Stock Exchange of Thailand in 2025.
The funding will support Ngernturbo’s small-ticket lending business through its nationwide branch network. It will also help the company diversify its funding sources beyond domestic banks by bringing in international lenders.
Ngernturbo provides loans secured by vehicle and land titles, as well as nano-finance loans, to individuals and micro-entrepreneurs who have limited access to conventional banking services.
Founded in 2017, the company operates 1,004 branches across 54 provinces in Thailand. Its net loan portfolio stood at 12 billion baht ($360 million) as of June 30, up 11.3% from a year earlier.
Ashish Malik, investment officer for financial inclusion at responsAbility, said Ngernturbo’s branch network and improvements in governance and transparency following its stock market listing were among the factors behind the investment.
