ADB approves $280m loan for Indonesia roads
Sunday, 30 November 2008
MANILA, Nov 28 (AFP): The Asian Development Bank said today it will lend 280 million dollars to Indonesia to build roads, bridges and other critical infrastructure.
The loan will finance the second segment of an infrastructure programme launched by Jakarta in 2006. The government has estimated it would need 65 billion dollars in new infrastructure investments between 2005 and 2009, a bank statement said.
Japan is expected to co-finance the segment. The first section was supported by a 400 million-dollar ADB loan plus 100 million dollars from Tokyo, the ADB added.
"Given the weak investment climate, the government recognises that private sector participation could not be taken for granted, and that major structural and institutional reforms are needed," said Rehan Kausar, an ADB infrastructure specialist.
The loan will finance the second segment of an infrastructure programme launched by Jakarta in 2006. The government has estimated it would need 65 billion dollars in new infrastructure investments between 2005 and 2009, a bank statement said.
Japan is expected to co-finance the segment. The first section was supported by a 400 million-dollar ADB loan plus 100 million dollars from Tokyo, the ADB added.
"Given the weak investment climate, the government recognises that private sector participation could not be taken for granted, and that major structural and institutional reforms are needed," said Rehan Kausar, an ADB infrastructure specialist.