Overview

China Construction Bank provides IDR 250 billion loan to PT Mandiri Utama Finance for working capital purposes

Commitments (Constant USD, 2023)$15,905,266

Commitment Year•2022Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Feb 22, 2022

Last repayment (originally scheduled): Feb 21, 2026

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 China Construction Bank Indonesia

Receiving agencies

State-owned companies

PT Mandiri Utama Finance (MUF)

Loan description

China Construction Bank provides IDR 250 billion loan to PT Mandiri Utama Finance for working capital purposes

Grant element•5.5896%Interest rate (t₀)•6.5%Interest type•Fixed Interest RateMaturity•4 years

Narrative

Full Description

Project narrative

On February 22, 2022, PT Bank China Construction Bank Indonesia, Tbk. (CCBI) signed an IDR 250 billion non-revolving working capital loan facility agreement with PT Mandiri Utama Finance (MUF) — an Indonesian company engaging in the financing of goods such as motor vehicles that is a subsidiary of PT Bank Mandiri (Persero) Tbk, an Indonesian state-owned bank (51% shareholding) — for working capital purposes. This loan carried an interest rate of 6.5% per annum and a maximum tenor (maturity) of 48 months (4 years). On March 7, 2022, MUF withdrew IDR 50 billion from the facility. The final availability date was August 22, 2022. As of December 31, 2022, the loan balance outstanding was IDR 585,408,000,000.