Overview

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

Commitments (Constant USD, 2023)$3,538,787

Commitment Year•2010Country of Activity•IndonesiaDirect Recipient Country of Incorporation•IndonesiaOverseas Jurisdiction•IndonesiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 28, 2010

Last repayment (originally scheduled): Dec 26, 2012

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)

Loan description

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

Grant element•0%Interest rate (t₀)•13%Interest type•Fixed Interest RateMaturity•2.5 years

Narrative

Full Description

Project narrative

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.