Bank of China provides IDR 200 billion loan to PT Permodalan Nasional Madani for unspecified purposes

$14.29M USD

Funder	Bank of China (BOC)
Recipient Organization	PT Permodalan Nasional Madani (Persero) (PNM)
Country	Indonesia
Start Date	Feb 06, 2022
End Date	Apr 01, 2031
Duration	3,341 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`108341`

Grant Description

Bank of China provides IDR 200 billion loan to PT Permodalan Nasional Madani for unspecified purposes On February 6th, 2022, Bank of China provided a IDR 200 billion money market line facility to PT Permodalan Nasional Madani (PNM) — an Indonesian state-owned microfinancing company and subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk, an Indonesian state-owned bank — for unspecified purposes.

📋 Loan / Grant Terms

💰 Loan Amountcarried an interest rate of 6

📅 Tenor3 months

The loan will mature on February 6, 2024.

The financial covenants in the agreement require PNM to maintain a total consolidated debt to total equity of a maximum of ten times and maintain a maximum ratio of 5% for non-performing loans.

📚 Sources & References

PT Bank Rakyat Indonesia (Persero) Tbk and its Subsidiaries Consolidated financial statements as of December 31, 2023 and for the year then ended with independent auditor’s report 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.