Completed Mixed AidData Chinese Aid

CDB provides $260 million loan to PT SMART Tbk for unspecified purposes

$260M USD

Funder	China Development Bank (CDB)
Recipient Organization	PT Sinar Mas Agro Resources and Technology (SMART) Tbk
Country	Indonesia
Start Date	Feb 19, 2016
End Date	Apr 23, 2026
Duration	3,716 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85364`

Grant Description

CDB provides $260 million loan to PT SMART Tbk for unspecified purposes On February 19, 2016, China Development Bank (CDB) and PT Sinar Mas Agro Resources and Technology (SMART) Tbk — a subsidiary of Golden Agri-Resources (GAR) and a publicly-listed, global seed-to-shelf agribusiness focused on sustainable palm oil production — entered into a $260,000,000 credit agreement for unspecified purposes.

📋 Loan / Grant Terms

💰 Loan Amounthad a 3-year maturity and an unknown interest rate

📅 Maturity3 years

It was secured by (collateralized with) land rights on parcels of land with a total area of 20,623.95 hectares, buildings, land improvements and bridges owned by TAPIAN (a subsidiary of PT SMART Tbk). A corporate guarantee was also issued by Golden Agri-Resources Ltd. (GAR) in support of the loan. The loan was fully settled in February 2019.

📋 Staff Comments

1. PT Purimas Sasmita (PURIMAS) is the parent entity of PT SMART Tbk, whereas Golden Agri-Resources Ltd. (GAR) is its ultimate parent entity. The primary activities of PT SMART Tbk include the cultivation around 137 thousand hectares of oil palm plantations in Indonesia, including plasma smallholders; harvesting and extracting fresh fruit bunches (FFBs) into crude palm oil (CPO) and palm kernel (PK), to processing it into a broad range of industrial and consumer products such as cooking oil, margarine, shortening, biodiesel and oleo-chemicals, as well as merchandising palm products throughout the world.

📚 Sources & References

PT Sinar Mas Agro Resources and Technology Tbk dan Entitas Anak/and Its Subsidaries
About
RESPONSIBLE GROWTH THROUGH INNOVATION
PT SINAR MAS AGRO RESOURCES AND TECHNOLOGY TBK 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

PT Sinar Mas Agro Resources and Technology (SMART) Tbk

Interested in applying for this grant?

Complete our application form to express your interest and we'll guide you through the process.

Apply for This Grant