ICBC Indonesia provides IDR 50 billion loan to PT Varia Usaha Beton for working capital purposes (Linked to Record ID#66410)

$3.57M USD

Funder	PT Bank ICBC Indonesia
Recipient Organization	PT Varia Usaha Beton
Country	Indonesia
Start Date	Jan 01, 2017
End Date	Nov 01, 2029
Duration	4,687 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66411`

Grant Description

ICBC Indonesia provides IDR 50 billion loan to PT Varia Usaha Beton for working capital purposes In 2017, the Corporate Banking arm of ICBC Indonesia issued two loans to PT Varia Usaha Beton, a subsidiary of PT Semen Indonesia: an IDR 100 billion investment loan (captured in Record ID#66410) and an IDR 50 billion working capital loan (captured in this project).

📋 Staff Comments

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.