CDB provides $200 million (Phase 2) loan to Smartel for working capital and the acquisition of telecommunications equipment (Linked to Record ID#66468)

Funder	China (People's Republic of)
Recipient Organization	Indonesia
Country	Indonesia
Start Date	Oct 12, 2016
End Date	Dec 16, 2027
Duration	4,082 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66462`

Grant Description

CDB provides $200 million (Phase 2) loan to Smartel for working capital and the acquisition of telecommunications equipment On May 13, 2016, PT Smart Telecom (Smartel), a subsidiary of PT Smartfren Telecom Tbk, signed a Credit Agreement with China Development Bank (CDB) for US $200 million for working capital and the purchase of handsets or communication equipment.

The 4-year loan matures on June 3, 2019. The loan has an interest of six-month LIBOR + certain margin. 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.