Overview

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

Commitments (Constant USD, 2023)$16,408,323

Commitment Year•2023Country 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: Apr 10, 2023

Last repayment (originally scheduled): Apr 9, 2027

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 Indonesia provides IDR 250 billion loan to PT Mandiri Utama Finance for working capital purposes

Grant element•4.6042%Interest rate (t₀)•7.075%Interest type•Fixed Interest RateMaturity•4 years

Narrative

Full Description

Project narrative

On April 10, 2023, 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 subsidiary of PT Bank Mandiri (Persero) Tbk an Indonesian state-owned bank (51% shareholding) — for working capital purposes. This loan carries an interest rate of 7% to 7.15% and maturity of 4 years. The loan's final availability date was April 10, 2024.

Staff comments

1. For the time being, AidData has estimated the all-in interest rate as the midpoint of the 7% to 7.15% range. This issue warrants further investigation. 2. The drawdown date for the facility is unknown. This issue warrants further investigation.