REPUBLIKA.CO.ID, JAKARTA -- Three state-owned banks signed a loan agreement worth a total of 3 billion US dollars with China Development Bank (CDB). These three state-owned banks were Bank Mandiri, BRI and BNI.
The loans would be used to finance infrastructure projects in Indonesia. Of the total loans, each bank received 1 billion US dollars with a tenor of 10 years.
30 percent of the loan would be received in Renminbi (RMB). The purpose of the loan was for infrastructure development and trade, particularly between the two countries.
The term of the loans was 10 years in accordance with the infrastructure financing that require long-term funds. In addition, the loans would also improve cooperation between Indonesia and China.
The signing of the loan agreement was made by President Director of Bank Mandiri Budi Gunadi Sadikin, President Director of BRI Syam Asmawi, President Director of BNI Ahmad Baiquni and President of CDB Zheng Zhijie, in Beijing, China, Wednesday (16/9) evening.
The signing ceremony was witnessed by the Minister of SOEs Rini Sumarno and Minister/Chairman of National Development and Reform Committee Xu Shaoshi.
On that occasion, Budi Gunadi Sadikin, Asmawi Syam and Ahmad Baiquni conveyed, these loans became the beginning of the CDB loan commitments amounted to 30 billion US dollars. It was in accordance with the government program that would boost the infrastructure sector.
"So hopefully, this step can trigger the growth of the Indonesian economy toward the better future," Budi said in a written statement, Wednesday (16/9).
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