Firms told to make use of ADB loans<\/p>\n
JAKARTA (JP): Local companies should take advantage of the
\nUS$55.9 billion funds offered by the Manila-based Asian
\nDevelopment Bank (ADB) this year for the region, an official of
\nthe Indonesian Chamber of Commerce and Industry (Kadin) said on
\nTuesday.<\/p>\n
\"ADB sees businesses in Indonesia have not taken full
\nadvantage of its funding schemes,\" Kadin secretary-general Iman
\nSucipto Umar said in announcing an upcoming ADB seminar.<\/p>\n
ADB's biggest loan to Indonesia last year amounted to $400
\nmillion to the state gas company for the installation of gas
\npipes in Sumatra, Iman said.<\/p>\n
Local companies have been reluctant to make use of the lending
\nschemes either because of a lack of knowledge or poor competitive
\nspirit, he added.<\/p>\n
The seminar, sponsored by Kadin, will be held at the Shangri-
\nLa Hotel on May 16 to May 17.<\/p>\n
Iman said the seminar would highlight the advantages of ADB
\nschemes and provide information on how to apply for them.<\/p>\n
ADB is providing loans this year for development in energy,
\ntransportation, urban development, water supply,
\ntelecommunications, health, education, environment, finance and
\nlegal services.<\/p>\n
ADB is a multilateral development financial institution that
\npromotes social and economic progress in the Asia-Pacific region
\nthrough the extension of loans and equity investments. It
\nprovides technical assistance for the preparation and execution
\nof development projects and programs, as well as for advisory
\nservices.<\/p>\n
It also promotes and facilitates investment of public and
\nprivate capital for development and responds to requests for
\nassistance in coordinating development policies and plans of its
\ndeveloping member countries.<\/p>\n
It was established in 1966 by 31 member countries through
\ntheir respective governments. Membership has since grown to 58
\ncountries, consisting of 42 in the Asia-Pacific and 16 outside
\nthe region. (10)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/firms-told-to-make-use-of-adb-loans-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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