Indonesian Government to Apply for US$2bn Loan in 2024
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13 June 2023 22:23 WIB
TEMPO.CO, Jakarta - The Indonesian Finance Ministry's Financing and Risk Management director general, Suminto, said the government plans to apply for foreign debt of US$2 billion or Rp30.22 trillion in 2024. The debt will be sourced from a number of international lenders, including the World Bank.
A portion of the debt, amounting to US$701 million, is planned to be obtained from the World Bank. Meanwhile, US$1.035 billion will be sourced from the Asian Development Bank (ADB), ¥300 million from the Japan International Cooperation Agency (JICA), and CA$100 million from Canada.
"In 2024 we will procure a cash loan of Rp30.22 trillion or US$2 billion," he said in a hearing with Commission XI at the DPR Building in Jakarta, Tuesday, June 13, 2023.
Suminto said that the loan withdrawal is the indicative ceiling for 2024. The funds will be allocated to carry out 11 programs consisting of disaster risk financing and insurance and the reform of State-Owned Enterprises (BUMN), among others.
According to Suminto, for the disaster mitigation programs, the ministry will carry out various activities including for cooling funds or disaster financing. "We will make it into an underlying cash loan from the World Bank worth US$155 million, which we will withdraw next year," Suminto said.
MOH KHORY ALFARIZI
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