Overview

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

Commitments (Constant USD, 2023)$3,976,459

Commitment Year•2017Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2017

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

State-owned Commercial Banks

PT Bank ICBC Indonesia

Receiving agencies

State-owned companies

PT Varia Usaha Beton

Implementing agencies

State-owned companies

PT Varia Usaha Beton

Loan description

ICBC Indonesia provides IDR 50 billion loan to PT Varia Usaha Beton for working capital purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

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 Record ID#66410) and an IDR 50 billion working capital loan (captured in this project).

Staff comments

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