Bank of China provides $100 million loan to Garuda Indonesia for general purpose needs
Commitment amount
$ 112227556.95789523
Adjusted commitment amount
$ 112227556.96
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Indonesia
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On December 11, 2015, Garuda Indonesia — an Indonesian state-owned airline company — signed a $100 million loan agreement with Bank of China to support the company’s general-purpose needs. The borrowing terms of the loan are unknown. The outstanding loan amounts as of March 31, 2018, December 31, 2017, December 31, 2016 and December 31, 2015, amounted to $67,500,000, $69,500,000, $50,000,000 and $50,000,000, respectively. On March 31, 2018, Garuda Indonesia had met the financial ratio requirement of the Bank of China loan agreement.
Additional details
1. The Government of Indonesia holds a 60.54% ownership stake in Garuda Indonesia.
Number of official sources
1
Number of total sources
2
Details
Cofinanced
No
Direct receiving agencies [Type]
Garuda Indonesia [State-owned Company]