Project ID: 98363

ICBC provides a IDR 25 billion loan in June 2010 to PT MNC Finance for working capital purposes

Commitment amount

$ 3832063.7519116076

Adjusted commitment amount

$ 3832063.75

Constant 2021 USD

Summary

Funding agency [Type]

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

Recipient

Indonesia

Sector

Banking and financial services (Code: 240)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (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

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2010-06-28

Description

On June 28, 2010, PT Bank ICBC Indonesia entered into a IDR 25,000,000,000 credit facility 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 loan carried a maturity period of 30 months and an interest rate of 13% per annum. The proceeds of this loan were for working capital purposes, namely as fixed investment loans for consumer financing, particularly financing for the purchase of vehicles.

Number of official sources

1

Number of total sources

1

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

PT MNC Finance (MNCF) [Private Sector]

Loan Details

Maturity

3 years

Interest rate

13.0%

Grant element (OECD Grant-Equiv)

0.0%

Bilateral loan

Working capital