China Construction Bank Indonesia provides IDR 430 billion loan to PT Mandiri Tunas Finance for unspecified purposes

$30.71M USD

Funder	PT Bank China Construction Bank Indonesia
Recipient Organization	PT Mandiri Tunas Finance (MTF)
Country	Indonesia
Start Date	Jun 16, 2022
End Date	Jun 16, 2027
Duration	1,826 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`108269`

Grant Description

China Construction Bank Indonesia provides IDR 430 billion loan to PT Mandiri Tunas Finance for unspecified purposes On June 16, 2022, PT Mandiri Tunas Finance (MTF) — an Indonesian subsidiary of PT Bank Mandiri (Persero) Tbk an Indonesian state-owned bank (51% shareholding) — and China Construction Bank Indonesia signed a non-revolving credit agreement amounting to IDR billion.

MTF made drawdowns on July 15, 2022 with a tenor (maturity) of 3-years and an interest rate of 6% to 7.6%. The facility was originally scheduled to mature on July 15, 2025.

📋 Staff Comments

1. For the time being, AidData has estimated the all-in interest rate as the midpoint of the 6% to 7.6% range. This issue warrants further investigation.

📚 Sources & References

Annual report 2023 Bank Mandiri 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.