Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
World Bank grants Indonesia $800 mln in development policy loans
+ -
11:16, December 05, 2007

 Related News
 World Bank chief announces more aid for trade
 World Bank to extend loan for improving Ukraine's power grid
 World Bank calls for greater investment in agriculture in developing countries
 World Bank pledges $4.5 bln aid to Indian state
 World Bank pledges record 3.5 billion dollars for poorest countries
 Comment  Tell A Friend
 Print Format  Save Article
The World Bank has approved two Development Policy Loans (DPLs) amounting to 800 million U.S. dollars to add momentum to Indonesia's pro-poor reforms and infrastructure program, said a statement released by the bank on Tuesday.

The 600-million-dollar Fourth Development Policy Loan and the 200-million-dollar First Infrastructure Development Policy Loan bring together the Asian Development Bank, the Japanese government and the World Bank on a common platform to support Indonesia's growing reform agenda, said the statement.

These low-cost loans are part of the Indonesian government's strategy to reduce the country's debt levels, which have been declining the fastest in East Asia from 80 percent of the GDP in 2000 to 35 percent by December 2007, and to make use of the lowest cost options for meeting financing requirements, according to the statement.

"The DPL program reflects the mature relationship between Indonesia and its international development partners," said Joachim von Amsberg, the World Bank's Country Director for Indonesia.

"With continued progress on these reforms, Indonesia can achieve even higher and more broad-based growth that would lead to rapid poverty reduction," he added.

These new loans have no commitment fees, which were abolished as part of a broader reform to reduce and simplify World Bank loan pricing in September 2007.

They also carry significantly lower interest rates and longer maturity than private financial market borrowings, allowing Indonesia to save in total debt service payments over the life of the loans, according to the World Bank.

Source: Xinhua



  Your Message:   Most Commented:
Readers Pick: Similar poses by babies and cats
Yi readies for Yao with win
World celebrities on China's peaceful rise, a harmonious world

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90777/6315361.pdf