Project ID: 66411

ICBC Indonesia provides IDR 50 billion loan to PT Varia Usaha Beton for working capital purposes (Linked to Project ID#66410)

Commitment amount

$ 4306090.953688171

Adjusted commitment amount

$ 4306090.95

Constant 2021 USD

Summary

Funding agency [Type]

Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]

Recipient

Indonesia

Sector

Business and other services (Code: 250)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

No

Category

Intent

Commercial (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

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-01-01

Description

In 2017, the Corporate Banking arm of ICBC Indonesia issued two loans to PT Varia Usaha Beton, a subsidiary of PT Semen Indonesia: an IDR 100 billion investment loan (captured in Project ID#66410) and an IDR 50 billion working capital loan (captured in this project).

Additional details

PT Semen Indonesia (Persero) Tbk is a state-owned Indonesian cement company.

Number of official sources

1

Number of total sources

2

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Details

Cofinanced

No

Direct receiving agencies [Type]

PT Varia Usaha Beton [State-owned Company]

Implementing agencies [Type]

PT Varia Usaha Beton [State-owned Company]

Loan Details

Bilateral loan

Working capital