Chinese Government pledges $85 million loan for Cirebon-Kroya Double Track Railway Project (Linked to Project ID#72360)
Pledged amount
$ 184469834.71720266
Adjusted pledged amount
$ 184469834.71720266
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]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Indonesia
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In 2005, the Chinese Government agreed at least in principle to provide an $85 million loan to the Government of Indonesia for the Cirebon-Kroya Double Track Railway Project. The purpose of this project was to construct a double-track railway from Cirebon, West Java to Kroya, Central Java. The loan would have carried a maturity of 15 years, a 7 year grace period and an interest rate of 3%. This project was part of a larger $200 million loan package to support 3 major infrastructure projects in Indonesia (see Project ID#72360). The other two projects were a $94 million, 110-megawatt Parit Baru power plant in West Kalimantan (see Project ID#35240) and the $169 million Jatigede dam in West Java (see Project ID#38861). A Chinese Government loan commitment for the Cirebon-Kroya Double Track Railway Project was never fulfilled because the Japanese Government ultimately financed and implemented the project.
Number of official sources
2
Number of total sources
7
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Indonesia [Government Agency]
Loan Details
Maturity
15 years
Interest rate
3.0%
Grace period
7 years
Grant element (OECD Grant-Equiv)
29.2381%