Bank of China pledges $150 million loan to modernize textile industry
Pledged amount
$ 341647818.2829954
Adjusted pledged amount
$ 341647818.2829954
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
In October 2004, China has agreed to provide a low interest credit of US$150 million to help restructure Indonesia's textile industry in response to Indonesia's request of a loan of US$120 million. The credit will be in the form of machineries to modernize and replace the old machines of the country's textile and garment industry. The loan with an annual interest of 3 percent will be channeled through Bank of China in Jakarta.
Number of official sources
2
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Indonesia [Government Agency]
Loan Details
Interest rate
3.0%