ICBC provides a IDR 25 billion loan in June 2010 to PT MNC Finance for working capital purposes

$1.79M USD

Funder	PT Bank ICBC Indonesia
Recipient Organization	PT MNC Finance (MNCF)
Country	Indonesia
Start Date	Jun 28, 2010
End Date	Jun 18, 2030
Duration	7,295 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`98363`

Grant Description

ICBC provides a IDR 25 billion loan in June 2010 to PT MNC Finance for working capital purposes On June 28, 2010, PT Bank ICBC Indonesia entered into a IDR 25,000,000,000 credit facility agreement with PT MNC Finance (MNCF) — an Indonesian company focused on consumer financing that is 99.99% owned by PT MNC Kapital Indonesia Tbk, an Indonesian financial service provider — for working capital purposes.

📋 Loan / Grant Terms

💰 Loan Amountcarried a maturity period of 30 months and an interest rate of 13% per annum

The proceeds of this loan were for working capital purposes, namely as fixed investment loans for consumer financing, particularly financing for the purchase of vehicles.

📚 Sources & References

PT MNC Kapital Indonesia Tbk Consolidated Financial Statements as of December 31, 2012 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.