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Overview

Chinese Government pledges $85 million loan for Cirebon-Kroya Double Track Railway Project (Linked to Record ID#72360)

Commitments (Constant USD, 2023)$170,368,094
Commitment Year•2005Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2005
First repayment (originally scheduled)
Dec 31, 2011
Last repayment (originally scheduled)
Dec 29, 2019

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 $85 million loan for Cirebon-Kroya Double Track Railway Project (Linked to Record ID#72360)

Grace period•7 yearsGrant element•44.3229%Interest rate (t₀)•3%Interest type•Fixed Interest RateMaturity•15 years

Narrative

Full Description

Project narrative

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 Record ID#72360). The other two projects were a $94 million, 110-megawatt Parit Baru power plant in West Kalimantan (see Record ID#35240) and the $169 million Jatigede dam in West Java (see Record 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.