JAKARTA: Three Indonesian regional water utility companies (PDAM) will soon receive bank loans this year, following the evaluation result on their performance from Ministry of Public Works.PDAM Ciamis, PDAM Bogor Municipality, and PDAM East Lombok are three companies amongst five water companies considered proper to get loans after passing an evaluation.Adding to the three companies having passed the performance evaluation are PDAM Malang and PDAM Tasikmalaya.They will receive credit from a three-bank syndication, consisting of BNI, BRI and Bank Jabar. Those three banks will provide IDR3.7 trillion loan.Then, we will process the others [two companies], and the process is expected to complete by this year, said Directorate General of Public Works in the Ministry Budi Yuwono last weekend.The first stage of the bank loan will be as much as IDR50.5 billion, Director General of Water Utility Danny Sutjiono in the Ministry revealed.In detail, PDAM Ciamis will get IDR14.7 billion, while PDAM East Lombok will get IDR11.18 billion, and PDAM Bogor will receive loans as much as IDR24 billion.The process of acceleration and fund disbursement with Ministry of Finance is running and having rapid progression this year.Performance evaluation.Danny said that the performance evaluation of PDAM is seen from the ability to pay loan and business expansion in purpose of getting stronger and better in the future.Earlier, Head of Restructuring Body of Drinking Water Utility System (BPPSPAM) Rachmad Karnadi predicted that the certainty of the bank loan to finance five PDAM will be ready on June 2011, following the finalization of legal protection between local government and Ministry of Finance.The release of the legal protection for loan agreement is a follow up from the release of fund disbursement guarantee letter by Ministry of Finance last January.The bank loan for PDAM is based on the Presidents Decree No. 29/2009 on the guarantee of national bank interest subsidy.According to the decree, the guarantee scheme stated that the central government and local government will bear 70% of the loan if PDAM is default. Meanwhile, the remaining settlement of 30% will come from PDAM equities. (T04/NOM)
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