Overview

ICBC provides a IDR 20 billion loan in July 2011 to PT MNC Finance for working capital purposes

Commitments (Constant USD, 2023)$2,590,486

Commitment Year•2011Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 4, 2011

Last repayment (originally scheduled): Jul 3, 2014

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

Private Sector

PT MNC Finance (MNCF)

Collateral providers

Private Sector

PT MNC Finance (MNCF)

Loan description

ICBC provides a IDR 20 billion loan in July 2011 to PT MNC Finance for working capital purposes

Interest type•UnknownMaturity•3 years

Collateral

This loan was secured by consumer financing receivables and finance lease receivables equivalent to 120% of the outstanding loan balance.

Narrative

Full Description

Project narrative

On July 4, 2011, PT Bank ICBC Indonesia entered into a IDR 20,000,000,000 loan agreement with PT MNC Finance (MNCF) — an Indonesian company focused on consumer financing that is 99.99% owned by PT MNC Kapital Indonesia Tbk, an Indonesian financial service provider — for working capital purposes. This was a fixed investment loan that carried a maturity period of three years and it was secured by (i.e. collateralized against) consumer financing receivables and finance lease receivables equivalent to 120% of the outstanding loan balance. As of December 31, 2012, IDR 10,714,510,000 was outstanding under the loan. As of December 31, 2013, IDR 3,983,542,000 was outstanding under the loan. This loan was repaid in 2014.