ADB may disburse $1.2b this year<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
The Asian Development Bank (ADB) is mulling over disbursing
\nthis year between US$1.15 billion to $1.2 billion in loans that
\nwere put on hold last year when terms and conditions set on them
\nhad not been meet, an ADB executive said on Monday.<\/p>\n
Visiting ADB vice president John Lintjer said the disbursement
\nof the loans would be used to finance development projects here.<\/p>\n
\"We are hoping this year to be able to disburse our
\ncommitments from last year to the government of Indonesia. This
\nisn't a new commitment, but it will be for 2002,\" Lintjer was
\nquoted as saying by detik.com after meeting Vice President Hamzah
\nHaz at the palace.<\/p>\n
Parts of the ADB's loans are attached to reform targets, the
\ngovernment must first meet before the bank disburses its loans.<\/p>\n
Last year the ADB withheld a significant portion of its loans
\nwhich would have finance, among other things, power projects, as
\nthe government was unable to get a new electricity law in place.<\/p>\n
Getting these loan programs to work now would help the cash
\nstrapped government finance some of its development needs.<\/p>\n
Lintjer said in his meeting with Hamzah, he had asked him how
\nIndonesia had been using the ADB's loans, and whether they had
\nbeen used right on target.<\/p>\n
Indonesia's pervasive corruption remains a major concern to
\ninternational lenders wanting to ensure their loans were used
\neffectively.<\/p>\n
ADB vice president for Indonesia, David Green said that most
\nof the loans the ADB planned to disburse this year would finance
\ninfrastructure project and poverty reduction programs.<\/p>\n
Under a deal last year with the government, the ADB has
\ncommitted loans of between $600 million and $1.2 billion annually
\nuntil the year 2004. The high range of the lending depends on the
\ngovernment's success in meeting various reform targets.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/adb-may-disburse-12b-this-year-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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