ADB Disbursing US$2.7bn Loans for Indonesia
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March 3, 2020 | 06:32 pm
TEMPO.CO, Jakarta - The Asian Development Bank (ADB) is ready to disburse US$2.7 billion worth of loans for Indonesia this year. ADB president Masatsugu Asakawa said that this year's loan was higher compared to last year.
In 2019, the ADB disbursed US$1.7 billion loans to Indonesia.
Speaking in Jakarta earlier today, March 3, Asakawa said that the funds will be channeled to projects carried by both the government and the private sector.
Asakawa said that US$1 billion of the loan would be divided into two major allocations; US$500 million for increasing competitiveness, and another US$500 million for improving financial inclusion rate.
Asakawa today met with Indonesian President Joko Widodo or Jokowi to discuss the ADB's extended support for Indonesia's development priorities in numerous fields. He is determined to strengthen this partnership and continue to support government priorities, including improving education, developing skills, and social protection, as well as encouraging investment in infrastructure, mobilizing domestic resources, and climate and disaster resilience.
"Indonesia and ADB have a strong partnership relationship that is built on a shared goal, which is to achieve sustainable and inclusive growth," Asakawa said.
HENDARTYO HANGGI
