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Bank of China provides $100 million loan to Garuda Indonesia for general purpose needs
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | PT Garuda Indonesia (Persero) Tbk |
| Country | Indonesia |
| Start Date | Dec 11, 2015 |
| End Date | Mar 02, 2031 |
| Duration | 5,560 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 49805 |
Grant Description
Bank of China provides $100 million loan to Garuda Indonesia for general purpose needs On December 11, 2015, Garuda Indonesia — an Indonesian state-owned airline company — signed a $100 million loan agreement with Bank of China to support the company’s general-purpose needs.
The outstanding loan amounts as of March 31, 2018, December 31, 2017, December 31, 2016 and December 31, 2015, amounted to $67,500,000, $69,500,000, $50,000,000 and $50,000,000, respectively. On March 31, 2018, Garuda Indonesia had met the financial ratio requirement of the Bank of China loan agreement.
Staff Comments
1. The Government of Indonesia holds a 60.54% ownership stake in Garuda Indonesia.
Sources & References
- PT. Garuda Indonesia (Persero) Tbk and its Subsidiaries Consolidated Financial Statements
- Garuda Indonesia
- Annual report 2016 Garuda Indonesia
- Annual report 2018 Garuda Indonesia
- Annual report 2020 Garuda Indonesia
- Annual report 2022 Garuda Indonesia 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 Garuda Indonesia (Persero) Tbk
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