How to add babel and polyfills to a RequireJs project? - babeljs

Question

I am working on a legacy project which uses RequireJs to load and resolve all the dependencies. It works fine on modern browsers, but i need to add support for IE11.
I tried to use babel 7 with #babel/preset-env with following .babelrc
{
"presets": [
["#babel/preset-env", {
"useBuiltIns": "usage",
"corejs": 3,
"targets": {
"browsers" : ["ie>=11"]
},
"modules": false
}]
],
"compact": false
}
the import statements injected by the preset as following
import "core-js/modules/es.function.name.js";
cause error "import statements can't be used outside a module". Even when I use modules: "amd", then core-js is imported as
define(["core-js/modules/es.array.filter.js", "core-js/modules/es.object.to-string.js", "core-js/modules/es.string.includes.js", "core-js/modules/es.function.name.js", "core-js/modules/es.regexp.exec.js", "core-js/modules/es.string.split.js", "core-js/modules/es.string.small.js", "core-js/modules/es.string.search.js"], function (_esArrayFilter, _esObjectToString, _esStringIncludes, _esFunctionName, _esRegexpExec, _esStringSplit, _esStringSmall, _esStringSearch) {
"use strict";
//...
});
which throws error like "define is not defined in require.js".
When using useBuiltIns: "entry", and then including core-js as
require(["core-js", ../other modules], function(corejs, ...){
}
)
in the main.js file, it fails to correctly resolve the path of the files even though I have included the path to core-js in require.config.paths.
I tried #babel/runtime and #babel/plugin-transform-runtime but no luck there.
So my question is what would be the best way to add babel and the required polyfills in my RequireJs project so that it is compatible with IE 11?