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Bank of China (Hong Kong) provides IDR 500 billion loan to Protelindo for general corporate purposes
| Funder | Bank of China (Hong Kong) Limited (BOCHK) |
|---|---|
| Recipient Organization | PT Iforte Solusi Infotek|PT Profesional Telekomunikasi Indonesia (Protelindo) |
| Country | Indonesia |
| Start Date | Jan 21, 2022 |
| End Date | Apr 17, 2026 |
| Duration | 1,547 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105164 |
Grant Description
Bank of China (Hong Kong) provides IDR 500 billion loan to Protelindo for general corporate purposes On January 21, 2022, the Jakarta Branch of the Bank of China (Hong Kong) Limited (BOCHK) signed a IDR 500,000,000,000 credit agreement with PT Profesional Telekomunikasi Indonesia (Protelindo) — a subsidiary of the Indonesian state-owned telecommunications company PT Sarana Menara Nusantara Tbk — and PT Iforte Solusi Infotek — a 99.99% direct subsidiary of Protelindo — for general corporate purposes.
This loan carried a maturity period of four years (48 months) and was governed by Indonesian law. Iforte provided a corporate guarantee for Protelindo's obligations. The proceeds were to be used by Protelindo for general corporates purposes. As of March 31, 2024, the loan's amount outstanding was IDR 90,000,000,000
Sources & References
- Signing of the Credit Agreement and Corporate Guarantee Agreement by Protelindo and Iforte with Bank of China (Hong Kong) Limited
- Jakarta Branch
- PT Sarana Menara Nusantara Tbk. Consolidated financial statements as of March 31, 2024 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
PT Iforte Solusi Infotek|PT Profesional Telekomunikasi Indonesia (Protelindo)
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