ICBC Provides Loan for BTN

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  • Bank ICBC. REUTERS/Francois Lenoir

    Bank ICBC. REUTERS/Francois Lenoir

    TEMPO.CO, Jakarta - ICBC Indonesia has provided an Rp. 11.4 million of bilateral loan to bank Tabungan Negara (BTN) to support the one million housing program. The memorandum of understanding (MoU) on the loan was signed on Wednesday, September 16, 2015, and was signed by Bank ICBC Indonesia CEO Shen Xiaoqi and BTN Bank CEO Maryono.

    "The collaboration is a follow-up of the Indonesian and Chinese government [cooperation] in supporting housing development for the people of Indonesia," Maryono said in a statement.

    The loan will be disbursed in stages within the next three years. The cooperation between BTN and ICBC Indonesia will cover financial support in infrastructure projects and housing development, the purchasing of BTN mortgage asset, and disbursement of syndicated credit.