Chinese Government pledges $8 billion credit line for infrastructure and industrial projects (Linked to Record ID#37868, #38540)

Funder	China (People's Republic of)
Recipient Organization	Indonesia
Country	Indonesia
Start Date	Jul 23, 2011
End Date	Oct 05, 2029
Duration	6,649 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`38539`

Grant Description

Chinese Government pledges $8 billion credit line for infrastructure and industrial projects On Apr 29, 2011, Chinese Premier Wen Jiabao, agreed to extend up to US$8 billion of credit line in commercial loans for infrastructure and industrial projects in Indonesia. The China Investment Corp. plans to offer $4 billion of the $8 billion financing contracts.

The Export-Import Bank of China and Industrial and Commercial Bank of China are also involved in the program. Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.