Jakarta, March 30th, 2015 -- ICBC Group has signed 4 (four) agreements with various institutions in support of Indonesia’s economic development through Renminbi (“RMB”) financing facilities. This event was initiated by Indonesia-China Economic Cooperation Forum, in an alignment with President Joko Widodo’s foreign economic policy to strengthen its relationship with China.

The first agreement was between PT  Bank ICBC Indonesia and Bank Mayapada Internasional, Tbk. on “Cross-border RMB Financing Cooperation Agreement.”  The second was a tripartite agreement among ICBC Financial Leasing Company Limited, PT  Bank ICBC Indonesia and Sinarmas, on “Cross-Border RMB Lease Financing Cooperation Agreement for Pulp & Paper Development.” The ensuing agreement was entitled “Cross-border RMB Business Cooperation Agreement” between ICBC Limited and Lembaga Pembiayaan Ekspor Indonesia (Indonesia Exim Bank).  The last was cooperation agreement on “Investment, Development, and Operation of General Highway and Supporting Facility for Coal Transport in Central Kalimantan Province” project, which was signed by ICBC Limited, PT  Perkeretaapian Tambun Bungai, China Railway Group Limited, and PT  Mega Guna Ganda Semesta.

PT  Bank ICBC Indonesia President Director, Shen Xiaoqi conveyed  ICBC Ltd’s and ICBC Indonesia’s  strong commitment to support sectors that potentially contribute to Indonesia’s economic growth. As a bank which has competitive advantages in RMB products and services, PT  Bank  ICBC Indonesia can play an active role in bridging the economic bilateral relationship between Indonesia and China, Shen Xiaoqi added.