Bank of China pledges $150 million loan to modernize textile industry

$150M USD

Funder	Bank of China (BOC)
Recipient Organization	Government of Indonesia
Country	Indonesia
Start Date	Oct 14, 2004
End Date	Oct 11, 2033
Duration	10,589 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`35009`

Grant Description

Bank of China pledges $150 million loan to modernize textile industry In October 2004, China has agreed to provide a low interest credit of US$150 million to help restructure Indonesia's textile industry in response to Indonesia's request of a loan of US$120 million.

The credit will be in the form of machineries to modernize and replace the old machines of the country's textile and garment industry. The loan with an annual interest of 3 percent will be channeled through Bank of China in Jakarta.

📚 Sources & References

China offers loans of US$ 150 mln to prop up Indonesia's textile industry
Indonesia: USD 150m-chinese-loan-to-help-textile-industry
China Supply of textile machinery to Indonesia
China offers loans of US$ 150 mln to prop up Indonesia's textile industry.
印尼要求中国贷款帮助更新纺织设备
Peluang Ekspor TPT Pasca Kuota 2005 Masih Terbuka 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.