China Eximbank provides $200 million term loan to Indonesia Eximbank for on-lending purposes in September 2020
Commitment amount
$ 223367400.47747976
Adjusted commitment amount
$ 223367400.48
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Indonesia
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On September 25, 2020, Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank or LPEI) — an Indonesia state-owned bank — signed a $200 million term loan agreement with China Eximbank for on-lending purposes. The loan carries the following borrowing terms: a 3-year maturity (final maturity date: October 20, 2023) and an interest rate of 3-month LIBOR plus an unspecified margin. At the signing of the loan agreement, LPEI was represented by Agus Windiarto and Henry Sihotang and China Eximbank was represented by Gao Ning, Deputy General Manager of the Corporate Banking Department. According to a press release by LPEI, 50 percent of China Eximbank's loan will later be used to support exporters' working capital financing needs with priority on projects that facilitate trade, investment and infrastructure between Indonesia and China. The agreement was announced on the same day as an ICBC loan to the LPEI. Please see #96342 for more information on that loan.
Number of official sources
2
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
PT Lembaga Pembiayaan Ekspor Indonesia (LPEI) [State-owned Bank]
Implementing agencies [Type]
PT Lembaga Pembiayaan Ekspor Indonesia (LPEI) [State-owned Bank]
Loan Details
Maturity
3 years