Overview

Bank of China provides IDR 200 billion loan to PT Permodalan Nasional Madani for unspecified purposes

Commitments (Constant USD, 2023)$12,724,213

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

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Feb 6, 2022

Start (actual): Feb 6, 2022

End (actual): Feb 6, 2024

Last repayment (originally scheduled): Feb 6, 2024

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

Bank of China (BOC)

Receiving agencies

State-owned Banks

PT Permodalan Nasional Madani (Persero) (PNM)

Loan description

Bank of China provides IDR 200 billion loan to PT Permodalan Nasional Madani for unspecified purposes

Grant element•3.3053%Interest rate (t₀)•6.13%Interest type•Fixed Interest RateMaturity•2 years

Narrative

Full Description

Project narrative

On February 6th, 2022, Bank of China provided a IDR 200 billion money market line facility to PT Permodalan Nasional Madani (PNM) — an Indonesian state-owned microfinancing company and subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk, an Indonesian state-owned bank — for unspecified purposes. The loan carried an interest rate of 6.13% and a tenor of 3 months. The loan will mature on February 6, 2024. The financial covenants in the agreement require PNM to maintain a total consolidated debt to total equity of a maximum of ten times and maintain a maximum ratio of 5% for non-performing loans.