Overview

Chinese Government pledges to provide $300 million preferential buyer's credit loan for earthquake reconstruction activities

Commitments (Constant USD, 2023)$801,732,208

Commitment Year•2005Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaSector•Emergency ResponseFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 25, 2005

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

Government Agencies

Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

Government of Indonesia

Loan desecription

Chinese Government pledges to provide $300 million preferential buyer's credit loan for earthquake reconstruction activities

Interest type•Unknown

Narrative

Full Description

Project narrative

On April 25, 2005, during President Hu Jintao's visit to Indonesia, the Chinese Government signed a memorandum of understanding (MOU) pledging to provide a $300 million USD preferential buyer's credit loan for infrastructure reconstruction and disaster recovery in Indonesia (p. 251). Then, on 28 July 2005 during President Susilo Bambang's visit to China, President Hu Jintao increased this amount to $400 million USD (p. 252).

Staff comments

This project captures the full $400 million as a separate project does not need to be created to capture extra $100 million USD since it was still a pledge, not a commitment, when Jintao increased the loan amount.