Project ID: 66416

ICBC Indonesia contributes IDR 1 trillion to IDR 4 trillion syndicated loan for East Palapa Ring Package Fiber Optic Network Project

Commitment amount

$ 86121819.0737634

Adjusted commitment amount

$ 86121819.07

Constant 2021 USD

Summary

Funding agency [Type]

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

Recipient

Indonesia

Sector

Communications (Code: 220)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

Yes

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (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

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-03-29

Actual start

2017-07-01

Actual complete

2019-10-14

Description

On March 29, 2017, ICBC Indonesia and PT Palapa Timur Telematics (PTT) — a special purpose vehicle and subsidiary of PT Mora Telematics Indonesia (Moratelindo) — signed an IDR 4.004 trillion (approximately US$300 million) syndicated loan agreement with five banks [including ICBC Indonesia, PT Bank BNI (Persero), Bank Papua, Bank Maluku Malut and Bank Sulselbar] for the East Palapa Ring Package Fiber Optic Network Project. ICBC Indonesia contributed IDR 1 trillion to the loan syndicate. The purpose of the IDR 5.13 trillion project was to extend the reach of a broadband communications system to the regions and provinces of East Nusa Tenggara, Maluku, Papua and West Papua (with a total network length of 8,400 km). Construction began in July 2017. The project was completed on October 14, 2019.

Additional details

1. This project is also known as the Palapa Ring Broadband Project. The Indonesian project title is Proyek Palapa Ring Paket Timur. 2. PTT is also known as PT Palapa Timur Telematika. Moratelindo is a private Indonesian company.

Number of official sources

7

Number of total sources

13

Download the dataset

Details

Cofinanced

Yes

Cofinancing agencies [Type]

Bank Sulselbar [Private Sector]

PT Bank Negara Indonesia (Persero) [State-owned Bank]

Bank Papua [Private Sector]

Bank Maluku Malut [Private Sector]

Direct receiving agencies [Type]

PT Palapa Timur Telematika (PTT) [Joint Venture/Special Purpose Vehicle]

Loan Details

Syndicated loan

Investment project loan

Project finance