Overview

China Construction Bank provides IDR 215 billion loan to PT Permodalan Nasional Madani for unspecified purposes

Commitments (Constant USD, 2023)$14,111,158

Commitment Year•2023Country 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: Jan 4, 2023

Last repayment (originally scheduled): Jul 20, 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

China Construction Bank Corporation (CCB)

Receiving agencies

State-owned Banks

PT Permodalan Nasional Madani (Persero) (PNM)

Loan description

China Construction Bank provides IDR 215 billion loan to PT Permodalan Nasional Madani for unspecified purposes

Grant element•1.6482%Interest rate (t₀)•6.25%Interest type•Fixed Interest RateMaturity•1 years

Narrative

Full Description

Project narrative

On January 4, 2023, PT Bank China Construction Bank Indonesia Tbk entered into an IDR 215 billion installment loan facility agreement with PT Permodalan Nasional Madani (Persero) (PNM) — an Indonesian state-owned microfinancing company and subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk, an Indonesian state-owned bank — for unspecified purposes. This loan carried a maturity period of 12 months (final maturity: July 20, 2024) and a 6.25% interest rate. The borrower was required to maintain the following financial covenants: maintain a quality of collateral coverage ratio of at least 100%, maintain a gearing ratio of a maximum of 8x, and maintain a non-performing loan Mekaar maximum of 3%.