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ICBC Indonesia provides $380 million term loan to Indonesia Eximbank for on-lending purposes in September 2020
| Funder | PT Bank ICBC Indonesia |
|---|---|
| Recipient Organization | PT Lembaga Pembiayaan Ekspor Indonesia (LPEI) |
| Country | Indonesia |
| Start Date | Sep 24, 2020 |
| End Date | Mar 17, 2033 |
| Duration | 4,557 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 96342 |
Grant Description
ICBC Indonesia provides $380 million term loan to Indonesia Eximbank for on-lending purposes in September 2020 On September 24, 2020, Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank or LPEI) — an Indonesia state-owned bank — signed a $380 million term loan agreement with PT Bank ICBC Indonesia, a subsidiary of the Industrial and Commercial Bank of China Limited (ICBC) for on-lending purposes.
During the signing of the loan agreement, the LPEI was represented by Agus Windiarto and Henry Sihotang, and the ICBC was represented by Thomas Arifin, Director of PT Bank ICBC Indonesia. The signing ceremony was held at Indonesia Eximbank's Head Office in Jakarta.
The lender disbursed $150 million on September 29, 2020 and $100 million on November 19, 2020. The final maturity dates of these two borrowings are September 29, 2025 and November 19, 2025, respectively. The loan is expected to help the growth of export through financing disbursement to export-oriented sectors.
The agreement was announced on the same day as a China Eximbank loan to the LPEI. Please see #96330 for more information on that loan.
Sources & References
- Indonesia Eximbank Gets US $580mn Foreign Loans from Two Financial Institutions
- LPEI Peroleh Fasilitas Pendanaan USD580 Juta dari Dua Lembaga Keuangan
- Ditopang China Eximbank & ICBC
- LPEI Dapat Utang Rp 8,6 T
- Annual report 2023 Indonesia Eximbank
- Annual report 2021 Indonesia Eximbank
- 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
PT Lembaga Pembiayaan Ekspor Indonesia (LPEI)
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