Overview

China Eximbank provides $200 million term loan to Indonesia Eximbank for on-lending purposes in September 2020

Commitments (Constant USD, 2023)$206,346,764

Commitment Year•2020Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 25, 2020

Last repayment (originally scheduled): Sep 25, 2023

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 Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

PT Lembaga Pembiayaan Ekspor Indonesia (LPEI)

Implementing agencies

State-owned Banks

PT Lembaga Pembiayaan Ekspor Indonesia (LPEI)

Loan description

China Eximbank provides $200 million term loan to Indonesia Eximbank for on-lending purposes in September 2020

Interest type•Variable Interest RateLoan tenor•3-month rateMaturity•3 years

Narrative

Full Description

Project narrative

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.