Govt to File for Rp40tn Foreign Debt
4 March 2015 13:34 WIB
TEMPO.CO, Jakarta – Andrinof Chaniago, head of the National Development Planning Agency (Bappenas), said the government will file for a foreign debt worth Rp40 trillion to fund state projects over the next five years. The loan will be obtained from the Asian Development Bank (ADB), the Islamic Development Bank, and the World Bank, among others
The loan has a maturity period of up to 40 years at with a 2.0 to 3.5 percent annual interest. Half of the loan, Andrinof said, will be allocated for infrastructure development.
"The rest is allocated for various purposes such as social and educational programs," he told Tempo yesterday.
According to Andrinof, this year debt has risen by 100 percent over the previous year due to the increasing need of funds for infrastructure development and other programs.
ALI HIDAYAT
