IDB Offers US$5bn Loan

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  • TEMPO.CO, Jakarta - Mohammad Jamal Alsaati, head of delegation of the Islamic Development Bank (IDB), has offered the Indonesian government a financial support worth US$5 billion this year.

    "As founder of the IDB, Indonesia is a country that is very strategic for us," he said in Jakarta last weekend.

    Dewo Broto Joko Putranto, director of multilateral foreign funding at Bappenas, said the fund will be used in accordance with the government's need as listed in the National Medium Term Development Plan (RPJMN) for 2015-2019.

    Both sides agreed to set five priority sectors in the utilization of these funds. The use will include support over the sharia finance industry's development, improve the distribution of endowments and alms, poverty reduction activities, and to help public and private partnerships in export and investment development.

    Furthermore, Dewo said, the US$5 billion loan is an indicative funding from the IDB that can also be used b privates.