ADB agrees $302.9m aid package for RI<\/p>\n
MANILA (Reuters): The Asian Development Bank (ADB) said
\nyesterday it had approved a package of US$300 million in loans
\nand $2.9 million in technical assistance grants to help the poor
\nin crisis-hit Indonesia.<\/p>\n
The Social Protection Sector Development Program will help
\nimpoverished people receive education, health, family planning
\nand nutrition, the Manila-based multilateral financial
\ninstitution said in a statement.<\/p>\n
The program was developed jointly by the Indonesian government
\nand several aid agencies.<\/p>\n
\"The crisis has pushed the cost of attending school and
\nobtaining essential health care beyond the reach of Indonesia's
\npoorest people. This jeopardizes their future productivity -- a
\ncost that Indonesia will have to bear for many years,\" said
\nCharles Currin, ADB senior education specialist.<\/p>\n
Indonesia's financial crisis is expected to drive about half
\nof its 200 million people below the poverty line by the end of
\nthe year, official estimates show.<\/p>\n
A program loan of $100 million will be sourced from ADB's
\nordinary capital resources with an interest rate based on the
\nvariable lending rate system for dollar loans, including a
\ncommitment charge of 0.75 percent per year. It is expected to be
\ndisbursed in two equal tranches.<\/p>\n
The loan will be amortized over 15 years including a grace
\nperiod of three years.<\/p>\n
A project loan of $200 million, which has similar terms to the
\nprogram loan, will be repaid over 22 years including a grace
\nperiod of two years.<\/p>\n
The three technical assistance grants, totaling $2.9 million,
\nwill be financed on a grant basis from the Japan Special Fund,
\nthe ADB said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/adb-agrees-3029m-aid-package-for-ri-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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