CDB to Disburse Loans for Indonesia in July

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  • Ilustrasi mata uang Cina, Yuan. REUTERS/Stringer

    Ilustrasi mata uang Cina, Yuan. REUTERS/Stringer

    TEMPO.CO, Jakarta - The State-Owned Enterprises Ministry expected that China’s commitment to provide loans would be realized in July 2015. Gatot Trihargo, the deputy for finance, construction and other services at the SOE Ministry said that representatives from state-owned enterprises were in negotiations with China to realize the funding for infrastructure projects in the near future.

    The SOE Ministry also said that China Development Bank (CDB) would pledge US$3 billion to Indonesian state-owned banks, in addition the funding commitment of US$20 billion agreed between China and the SOE Ministry.

    “Hopefully the fund will be disbursed in July. The fund might be given in several stages,” Gatot said on Thursday, July 2, 2015.

    Earlier, the SOE Ministry signed a cooperation agreement with CDB related to US$20 billion worth of loans for seven Indonesian SOEs to finance 16 projects with a total investment of US$23.8 billion.

    Gatot revealed that CDB would also provide state electricity company PT PLN with US$10 billion to develop power plants with a total capacity of 35,000 megawatt.