Overview

ICBC Indonesia provides a IDR 800 billion loan to Bank BJB for unspecified purposes

Commitments (Constant USD, 2023)$56,719,174

Commitment Year•2020Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 1, 2020

Last repayment (originally scheduled): Mar 1, 2022

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

PT Bank ICBC Indonesia

Receiving agencies

State-owned Banks

PT Bank Pembangunan Daerah Jawa Barat Syariah (Bank BJB)

Loan description

ICBC Indonesia provides a IDR 800 billion loan to Bank BJB for unspecified purposes

Grant element•1.9144%Interest rate (t₀)•7%Interest type•Fixed Interest RateMaturity•1.5 years

Narrative

Full Description

Project narrative

On September 1, 2020, PT Bank ICBC Indonesia issued a IDR 800,000,000,000 bilateral committed loan credit facility to PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk (Bank BJB) — an Indonesian bank owned by the West Java and Banten Provincial Governments and various city governments in both provinces — for unspecified purposes. This loan carried a borrowing period and maturity period of 18 months (1.5 years) and a final maturity date of March 1, 2022 and a fixed interest rate of 7%. This loan featured financial covenants requiring the borrower to provide financial statement (audited) with maximum period 180 days after year end closing and also followed by other relevant documents.