ADB Approves $200m Loan to Indonesia
MANILA ~ The Asian Development Bank (ADB) said this week it will lend US$200 million to Indonesia to support government efforts at stamping out corruption.
The project is part of a series previously funded by the Philippines-based ADB as well as the World Bank and Japan, an ADB statement said.
It would “support wide-ranging reforms in three core areas – improving the investment climate, strengthening public financial management and anticorruption efforts, and improving public service delivery,” it added.
Loan terms were not disclosed.
Ten years after the Asian financial crisis, Indonesia had become more stable and resilient to internal and external shocks. The concern no longer centered on economic stabilization and recovery but on achieving and sustaining higher rates of economic growth to reduce unemployment and poverty, ADB said.
To achieve these objectives, the government is relying on a pro-growth agenda while pursuing broad structural and institutional reforms.Filed under: The Nation