Deferred tax assets - net continued

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2012 AND 2011 Expressed in millions of Rupiah, unless otherwise stated Appendix 5109 35. FUND BORROWINGS continued c Bank Indonesia This account represents credit liquidity facility obtained from Bank Indonesia BI, which was then lent to Bank Mandiri’s debtors under the Government Credit Program. The administration and monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a state-owned company, based on Law No. 231999 dated 17 May 1999 regarding BI, BI Regulation No. 23PBI2000 dated 1 February 2000 and BI Regulation No. 520PBI2003 dated 17 September 2003 regarding the Hand-over of Management of Credit Liquidity of Bank Indonesia Under Credit Program. This facility bears interest at rates ranging from 3.75 to 7.00 per annum and will mature on various dates up to 2013. The details of this account are as follows: 2012 2011 Small-Scale Investment Loans KIK 755 7,279 d Ministry of Public Housing Kemenpera This account represents a Liquidity Facility of House Financing FLPP with sharing financing of 50.00 from Ministry of Public Housing’s fund and 50.00 from Bank Mandiri’s fund, in accordance with the Memorandum of Understanding between the Ministry of Public Housing No. 07SKBM2012 and PT Bank Mandiri Persero Tbk. No. DIR.MOU0032012 dated 15 February 2012 regarding the Amendment of Memorandum of Understanding between the Ministry of Public Housing No. 13SKBDP2011 and PT Bank Mandiri Persero Tbk. No. DIR.MOU0152011 regarding the Funding Distribution of Liquidity Facility of House Financing FLPP in the framework of the housing procurement through the Welfare House Ownership Loan. The above agreement was followed by Operational Cooperation Agreement between Public Service Center of House Financing Agency of the Ministry of Public Housing of the Republic of Indonesia No. 02SK.9HK.02.0422012 with PT Bank Mandiri Persero Tbk. No. DIR.PKO0102012 dated 15 February 2012 regarding the Funding Distribution of Liquidity Facility of House Financing FLPP in the framework of the housing procurement through the Welfare House Ownership Loan. The outstanding loan balance as at 31 December 2012 is amounting to Rp17,262. The facility bears interest at 0.50 per annum. The loan has a repayment schedule of maximum 180 months 15 years with the first installment begins at the next month for fund disbursed from date of 1 until 10, and at the next two months for the fund disbursed from date of 11 until the end of the month. The repayment principal and interest to Kemenpera will be made not later than the date of 10 for each month. e Direct Off-shore Loans The details of direct off-shore loans are as follows: 2012 2011 Deutsche Bank AG, Singapore 2,891,250 2,720,250 Standard Chartered Bank, Singapore 2,409,375 - Standard Chartered Bank, Jakarta 963,750 906,750 Asian Development Bank - Tranche A 574,018 673,942 - Tranche B 191,819 270,118 Agence Française de Développement 762,460 221,824 7,792,672 4,792,884