Mandiri Disburses Rp 9 Trillion for Infrastructure Projects

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  • TEMPO.CO, Jakarta - Budi Gunadi, Bank Mandiri's President Director, said that his company is ready to finance infrastructure projects.

    "In this first semester, we have approved to finance Rp 9 trillion [US$692.3 million] worth of projects. The figure is far higher than what we approved last year," Budi said on the sidelines of the Institute International Finance (IIF) event on Thursday, May 7, 2015, at the Ritz Carlton Hotel in Jakarta.

    According to Budi, the commitment reflects Bank Mandiri's supports to the government as a state-owned company without neglecting the regulation issued by the Financial Services Authority (OJK) that limits the amount of loans for each sector.

    Bank Mandiri also participates in an effort to improve infrastructures by providing syndicated loans with national and foreign financial institutions.

    Last year, Bank Mandiri approved Rp 15.3 trillion (US$1.2 billion) loans for infrastructure projects, increasing 131 percent higher from the Rp 6.6 trillion (US$507.7 million) of funds disbursed in 2013. The realization of the loans accounted for 37 percent of Bank Mandiri's total syndicated loans that reached up to Rp 41.6 trillion (US$3.2 billion) in December 2014.

    Included in the projects financed by Bank Mandiri's syndicated loans were toll roads, sea ports and airports, as well as power plants and electricity transmission projects.