BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
37
22. Loans from Government
Loans from Government consisted of:
December 31, 2008 December 31, 2007
IDR million IDR million
In Rupiah 159,675
175,772 In Foreign Currency
46,348 47,842
206,023 223,614
Loans from Government in Rupiah consisted of Government loans revenue due to Two Step Loans TSL, i.e. ASEAN Japan Development Fund for Indonesia AJDF for Major
Commercial Field Perkebunan Besar Swasta Nasional - PBSN program amounted to IDR144,357 million.
Loans from Government in foreign currency as at December 31, 2008 consisted of loans from Government due to Two Step Loans from Asian Development Bank ADB
amounting to USD4,232,700.00 or equivalent to IDR46,348 million.
23. Foreign Borrowings
Foreign borrowings consisted of:
December 31, 2008 December 31, 2007
IDR million IDR million
a. Syndicated loans from foreign banks 7,424,909
6,713,994 b. Non-syndicated loans from foreign banks
47,279 44,058
c. Deferred interest payables 7,692
40,228 7,479,880
6,798,280 December 31, 2008
December 31, 2007
IDR million IDR million
Nominal value of 1-14 days period 75,770,600
48,933,400 Less: Un-amortized discount interest
paid in advance 97,233
8,152 75,673,367
48,925,248
FASBI discount rate range - 1 day Over Night
3.00 - 8.75 3.00 - 4.75
- 7 days FTK discount rate range
- 1 day Over Night 7.34 - 9.50
- - 2 – 14 days
6.98 - 10.66 -
BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
38
a. Syndicated Loans from Foreign Banks
Syndicated loans from foreign banks represent syndicated loans from international banks to Bank Indonesia on behalf of the Government for monetary reserve
purposes. Syndicated loans consisted of:
December 31, 2008 December 31, 2007
IDR million IDR million
1 Syndicated loans of 1994 1,938,772
2,148,914 2 Syndicated loans of 1995
5,486,137 4,565,080
7,424,909 6,713,994
1 Syndicated loans of 1994
Represents a syndicated loan from foreign creditors with Mitsubishi Securities, Hong Kong Branch as the agent, amounted to USD500,000,000.00, and was
signed on March 28, 1994. Principal repayments are conducted semi annually on March and September. First principal repayment was settled on March 28,
2002 and the final repayment will be due on March 28, 2013. The interest rates are LIBOR + 0.625 for the first year and LIBOR + 0.875 for subsequent
years.
From the ceiling amount of USD500,000,000.00, the amount withdrawn was USD350,000,000.00. In order to comply with the comparability treatment
principle adopted from the agreement of Paris Club I and Paris Club II, the syndicated loan principal has been rescheduled through the agreement of
London Club I and II. In London Club I, the first amendment took place on March 28, 1999, i.e. to reschedule loan principal amounted to
USD210,000,000.00 for the payment period of September 28, 2000 to March 29, 2009. Meanwhile in London Club II, the second amendment took place on
September 28, 2000, i.e. to reschedule loan principal amounted to USD150,000,000.00 for the payment period of March 28, 2002 to March 28,
2013. The interest rates amended were LIBOR + 0.875 and TIBOR + 0.875.
The balances in foreign currency as at December 31, 2008 amounted to USD123,287,290.05 and JPY4,856,724,715.00.
2 Syndicated loans of 1995
Represents a syndicated loan from foreign banks with The Mizuho Corporate Bank, Ltd., Singapore Branch as the agent, amounted to USD500,000,000.00,
and was signed on June 14, 1995. Principal repayments are conducted semi annually on June and December. First principal repayment was settled on June
14, 2002 and the final repayment will be due on December 14, 2013. The interest rates are LIBOR + 0.625 and TIBOR + 0.625.
In order to comply with comparability treatment principle adopted from the agreement of Paris Club II and Paris Club III, the syndicated loan principal has
been rescheduled through the agreement of London Club II and III. In London
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