Project ID: 39365

China Eximbank provides $175.05 million preferential buyer's credit for Phase 2 of Railway Equipment Project (Linked to Project ID#61219)

Commitment amount

$ 206706978.9594478

Adjusted commitment amount

$ 206706978.96

Constant 2021 USD

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Indonesia

Sector

Transport and storage (Code: 210)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

Yes

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2016-08-18

Geography

Description

On August 18, 2016, China Eximbank and the Government of Indonesia's Ministry of Transportation signed a $175,056,055 preferential buyer's credit (PBC) agreement [China Exim Bank PBC (2016) 23 Total No. (411)] for Phase 2 of the Railway Equipment Project. The borrowing terms of the PBC are unknown. However, it is known that the borrower was to use the PBC proceeds to partially finance a commercial contract that was signed on September 30, 2015. The PBC agreement went into effect on January 24, 2017 and the loan achieved a disbursement rate of 68.1% by mid-2018. The purpose of Phase 2 was to procure 1,500 km of railway material and 500 turnout (wessel) units for use in the construction of a railway in Java, the construction of the Trans Sumatra railway lines, and the reconstruction of railways that are no longer active. The Government of Indonesia's Ministry of Transportation was responsible for executing the project over a period of 36 months. China EximBank also provided a $68.7 million PBC for Phase 1 of the Railway Equipment Project (captured in Project ID#61219).

Additional details

1. This project is also known as the Procurement of Track Material and Turn Out - Phase II Project and the Procurement of Track Material and Turnout Phase II (1500 KM'SP and 500 Unit) Project. 2. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020. 3. The Government of Indonesia project identification number is BB-1114-R1-029-0.

Number of official sources

10

Number of total sources

11

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Indonesia [Government Agency]

Implementing agencies [Type]

Indonesia Ministry of Transportation [Government Agency]

Loan Details

Bilateral loan

Export buyer's credit

Investment project loan

Preferential Buyer's Credit