FINANCE - VIVAnews - IDB to Grant Loans US$3 Bn to Indonesia

VIVAnews - The Islamic Development Bank (IDB) will grant loans worth US$2.8-3 billion to Indonesia as a form of partnership between Indonesian and IDB, which is attached in the Member Country Partnership Strategy.

Director of Multilateral Foreign Funding at the National Development Planning Ministry, Dewo Broto Joko Putranto, said the four-year cooperation is deemed the largest credit disbursed by the IDB to a country.

"The commitment can be materialized next year," said Dewo today, Sept 30.
According to Dewo, the IDB shows its appreciation toward the partnership. In addition, Indonesia for the time being focuses on developing infrastructures, education, agriculture, and poverty eradication.

"The IDB has been informed of the four sectors. Everything is approved," he said.

Of the four sectors, education sector will be mostly benefited from the agreement.

In addition to loans, the IDB is committed to provide donation to Indonesia. The amount of donation worth US$4 million and will be allocated for the improve in capacity building in Indonesia.

Source : http://en.vivanews.com/news/read/180476-idb-to-grant-loans-us-3-bn-to-indonesia - Sept 30, 2010