Mandiri Provide Credit of US$ 100 Million to SMI
JAKARTA - PT Bank Mandiri Tbk provides a financing loan of US $ 100 million to PT Sarana Multi Infrastruktur (Persero) (SMI). This is a form of support for the acceleration of infrastructure development in Indonesia.
The signing of credit agreement was executed by Executive Vice President of Government & Institutional Bank Mandiri M. Arifin Firdaus and Finance Director of SMI Agresius R. Kadiaman.
Bank Mandiri's loan portfolio to SMI is the first facility and is one of the forms of Bank Mandiri's support for the development of infrastructure projects in Indonesia. The credit agreement in the form of Bilateral Term Loan is non-revolving, with a term of 3 years.
As reported from kabarbisnis.com (21/6/2017), Kartini Sally, Director of Government & Institutional Bank Mandiri explains, "The infrastructure development is the priority of the Government of the Republic of Indonesia and will be implemented continuously until 2019, and Bank Mandiri as BUMN (State Owned Enterprise) Bank is ready to provide financing."
The bilateral financing cooperation to PT SMI is the first one conducted by Bank Mandiri. Provision of loan facilities is one of the steps to increase cooperation between two companies in infrastructure development and bilateral cooperation.
As of April 2017, Bank Mandiri's financing to the infrastructure sector reached Rp 9,36 trillion, with infrastructure sector financed including roads, construction, oil & gas & renewable energy, public housing & municipal facilities, power, transportation, syndicated financing and others.