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ICBC Indonesia provides IDR 1 trillion loan to BTN for One Million Housing Program (Linked to Record ID#49804)
| Funder | PT Bank ICBC Indonesia |
|---|---|
| Recipient Organization | Bank Tabungan Negara (BTN) |
| Country | Indonesia |
| Start Date | Jan 01, 2015 |
| End Date | Aug 26, 2030 |
| Duration | 5,716 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73207 |
Grant Description
ICBC Indonesia provides IDR 1 trillion loan to BTN for One Million Housing Program On September 16, 2015, ICBC Indonesia and Bank Tabungan Negara (BTN) — an Indonesia state-owned commercial bank — signed an IDR 1 trillion (or its equivalent in RMB) bilateral loan facility agreement to support the One Million Housing Program.
The purpose of this Government of Indonesia’s One Million Housing Program, which was launched on April 30, 2015 in Central Java by President Joko Widodo, is to provide at least 1 million provide adequate housing facilities to low income citizens. Over half of these houses were to be built using funds from the country’s government budget.
Government funding was also be used to finance the Housing Loan Liquidity Facility, government-backed mortgages for low-income people.
As of 2020, 5.4 million housing units had been built under the Program, 70 percent of which were designated for housing for low-income individuals. In 2023, 1.21 million residential units were built. In total, 9.2 million housing units were built between 2015 and 2023 with progress still ongoing.
Staff Comments
1. On April 30, 2015, ICBC Indonesia and Bank Tabungan Negara (BTN) also signed memorandum of understanding (MOU) on possible housing financing cooperation worth up to RMB 5 billion (or IDR 10 trillion) over the following three years (captured in Project ID#49804).
Sources & References
- BTN RECEIVES BILATERAL FINANCING FROM BANK ICBC INDONESIA
- ICBC Provides 5 Billion RMB Loan to Indonesian State-owned Banks in Support of Indonesia's 'Millionaire's Home' Program
- Economy in brief: ICBC
- BTN sign loan agreement
- 中国工商银行与印尼国家储蓄银行签署合作谅解备忘录
- Annual Report 2017
- Joko Widodo to Launch Indonesia’s One Million Houses Program in April
- COVID-19 hinders Indonesia's One Million Houses Program: VP
- Some 1.2 million houses built under PSR in 2023: Ministry
- Ministry: 1.11 Million Housing Units Built in 2021
- How the One Million Housing Program Has Shaped the Indonesian Paint Industry 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
Bank Tabungan Negara (BTN)
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