
State Owned Bank Joins Syndicated Loan for Trans Papua Road
04 February, 2025Share:
State Owned Bank Joins Syndicated Loan for Trans Papua Road

PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI), a state-owned bank, has participated in the syndicated loan for the Trans Papua road construction project. The public-private partnership (PPP) project has a total syndicated loan value of IDR 2.6 trillion. BRI’s Director of Wholesale & Institution Business, Agus Noorsanto, emphasized the bank’s commitment to supporting national strategic infrastructure projects. He stated that BRI’s involvement in the 50.14 km Jayapura-Wamena road construction reflects its dedication to national development. “This collaboration is expected to lay a solid foundation for the success of future strategic projects through the PPP scheme,” Agus explained in an official statement in Jakarta on Wednesday (January 8, 2025).
The syndicated loan of IDR 2.6 trillion consists of IDR 2.36 trillion in conventional credit and IDR 300 billion in sharia-compliant financing.
Besides BRI, several financial institutions have joined the financing structure. These include PT Sarana Multi Infrastruktur (Persero) (SMI), PT Bank Negara Indonesia (Persero) Tbk. (BNI), PT Bank Syariah Indonesia Tbk. (BSI), and PT Bank Pembangunan Daerah Papua (Bank Papua).
BRI and PT SMI are serving as coordinating banks, while BNI is part of the joint mandate lead arrangers and bookrunners (JMLABs). “The project has a total investment value of IDR 3.3 trillion, with a 15-year concession period, including two years for construction and 13 years for service operations,” BRI’s statement noted.
As of Q3 2024, BRI has disbursed syndicated loans amounting to US$459 million across two projects. This allocation accounts for 6.2% of BRI’s total financing portfolio. According to Bloomberg League Table Reports, this figure places BRI as the sixth-largest syndicated loan provider in Indonesia. Meanwhile, BNI remains the top lender in the syndicated loan market during the same period, with a total disbursement of US$1.03 billion.