ICBC Indonesia provides IDR 100 billion investment loan to PT Varia Usaha Beton

$7.14M USD

Funder	PT Bank ICBC Indonesia
Recipient Organization	PT Varia Usaha Beton
Country	Indonesia
Start Date	Jan 01, 2017
End Date	Jul 29, 2026
Duration	3,496 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66410`

Grant Description

ICBC Indonesia provides IDR 100 billion investment loan to PT Varia Usaha Beton In 2017, the Corporate Banking arm of ICBC Indonesia issued two loans to PT Varia Usaha Beton, a concrete, building materials, and cement raw material company and subsidiary of PT Semen Indonesia: an IDR 100 billion investment loan (captured in this project) and an IDR 50 billion working capital loan (captured in Record ID #66411).

📋 Staff Comments

1. PT Semen Indonesia (Persero) Tbk is a state-owned Indonesian cement company.

📚 Sources & References

Annual Report 2017
Semen Indonesia Group
Financial report 2018 Semen 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.