Completed Development AidData Chinese Aid

ICBC Indonesia contributes $150 million to $200 million club loan tranche to Indonesia Eximbank for foreign trade financing purposes

$150M USD

Funder	PT Bank ICBC Indonesia
Recipient Organization	Indonesia Eximbank \|PT Lembaga Pembiayaan Ekspor Indonesia (LPEI)
Country	Indonesia
Start Date	Sep 22, 2015
End Date	Dec 25, 2030
Duration	5,573 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66760`

Grant Description

ICBC Indonesia contributes to $200 million syndicated loan tranche to Indonesia Eximbank for foreign trade financing purposes On September 22, 2015, Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank or LPEI) — an Indonesia state-owned bank — signed a $500 million loan (borrowing facility) agreement with CMB Wing Lung Bank, Industrial and Commercial Bank of China (Asia) Limited (also known as ICBC (Asia) Limited), and Bank ICBC Indonesia (also known as ICBC Indonesia) to support foreign trade financing activities in Indonesia.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following borrowing terms: a 5-year maturity and an interest rate of 3

📅 Maturity5 years

ICBC Indonesia acted as the facility agent, while ICBC (Asia) Limited served as the lead arranger.

The loan consisted of two tranches: a $200 million tranche with three participants (ICBC Indonesia, ICBC (Asia) Limited, and CMB Wing Lung Bank) and a $300 million tranche with two participants (ICBC Indonesia and ICBC (Asia) Limited).

ICBC Indonesia contributed $150 million, ICBC (Asia) Limited contributed $30 million, and Wing Lung HK contributed $20 million to the $200 million tranche.

ICBC Indonesia contributed $270 million and ICBC (Asia) Limited contributed to the $30 million to the $300 million tranche.

The lender fully disbursed the $200 million tranche on September 29, 2015 and it fully disbursed the $300 million tranche on November 19, 2015.

The final maturity dates of these two borrowings (tranches) were September 29, 2020 and November 19, 2020, respectively. Both borrowings (tranches) were fully repaid.

📋 Staff Comments

This transaction was reportedly the first phase of a $20 billion MoU with ICBC (as captured in Project ID#68792).
Indonesia Eximbank is 100% owned by the Government of Indonesia and it provides import and export financing.
CMB Wing Lung Bank is wholly owned by China Merchants Bank (CMB), which is a Chinese state-owned commercial bank.

📚 Sources & References

Annual Report 2015
China's ICBC bank offers 500 mln USD in loan to Indonesian Eximbank
EXIMBANK SECURES $500M LOAN FROM ICBC
Eximbank secures $500m loan from ICBC
Indonesia Eximbank secures A$713 million loan from ICBC
Indonesia Eximbank Gets US $580mn Foreign Loans from Two Financial Institutions, 2015 Laporan Tahunan Annual Report
Annual Report 2020 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

Indonesia Eximbank |PT Lembaga Pembiayaan Ekspor Indonesia (LPEI)

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