Beijing (Antara Bali) - Three Indonesian state-owned banks have received loans totaling US$3 billion from China Development Bank to finance infrastructure projects in the country.
President directors of Bank Mandiri, Budi G. Sadikin, of BRI, Asmawi Syam and of BNI, Ahmad Baiquni, signed the loan agreement with CDB executive president Zeng Zhijie here on Wednesday, witnessed by state enterprises minister Rini Sumarno and head of China's National Development and Reform (NDRC), Xu Shaoshi.
Bank Mandiri, BRI and BNI each receive US$1 billion for a 10-year term and 30 percent of the funds would be received in Chinese currency renminbi.
Bank Mandiri president director Budi Sadikin told Antara the loan was taken in line with the government's programs focusing on infrastructure sector.
"We hope this move will spur Indonesia's economic growth towards a better level in the future. We (Mandiri, BRI and BNI) will form a loan syndication for the infrastructure projects with this loan," he said.
Until June 2015 Bank Mandiri has extended Rp38.2 trillion to the infrastructure sector for strategic projects such as toll road, port and others.
BRI president director Asmawi Syam said the loan from CDB would be used to finance new infrastructure projects which are prioritized by the government such as the Light Rail Transit, seaport and toll road development.
"Besides infrastructure, we will also use it to finance projects that could create export credits as the fund is in the form of a foreign currency," he said.
BNI president director Achmad Baiquni said the loan from CDP would also be used to improve the composition of foreign currency funds by extending their maturity profiles and increase BNI's capacity in the funding of long-term projects based on a matchterm funding scheme.
"The loan will become a stand-by fund to finance infrastructure development in Indonesia," he said.
BNI until the end of the first semester this year extended up to Rp62.3 trillion to several sectors including telecommunication, construction (toll road, seaport, airport) and electricity. (WDY)
COPYRIGHT © ANTARA News Bali 2015
President directors of Bank Mandiri, Budi G. Sadikin, of BRI, Asmawi Syam and of BNI, Ahmad Baiquni, signed the loan agreement with CDB executive president Zeng Zhijie here on Wednesday, witnessed by state enterprises minister Rini Sumarno and head of China's National Development and Reform (NDRC), Xu Shaoshi.
Bank Mandiri, BRI and BNI each receive US$1 billion for a 10-year term and 30 percent of the funds would be received in Chinese currency renminbi.
Bank Mandiri president director Budi Sadikin told Antara the loan was taken in line with the government's programs focusing on infrastructure sector.
"We hope this move will spur Indonesia's economic growth towards a better level in the future. We (Mandiri, BRI and BNI) will form a loan syndication for the infrastructure projects with this loan," he said.
Until June 2015 Bank Mandiri has extended Rp38.2 trillion to the infrastructure sector for strategic projects such as toll road, port and others.
BRI president director Asmawi Syam said the loan from CDB would be used to finance new infrastructure projects which are prioritized by the government such as the Light Rail Transit, seaport and toll road development.
"Besides infrastructure, we will also use it to finance projects that could create export credits as the fund is in the form of a foreign currency," he said.
BNI president director Achmad Baiquni said the loan from CDP would also be used to improve the composition of foreign currency funds by extending their maturity profiles and increase BNI's capacity in the funding of long-term projects based on a matchterm funding scheme.
"The loan will become a stand-by fund to finance infrastructure development in Indonesia," he said.
BNI until the end of the first semester this year extended up to Rp62.3 trillion to several sectors including telecommunication, construction (toll road, seaport, airport) and electricity. (WDY)
Editor : I Gusti Bagus Widyantara
COPYRIGHT © ANTARA News Bali 2015