IFAD chief here for loan agreement<\/p>\n
JAKARTA (JP): The president of the International Fund for
\nAgricultural Development (IFAD), Fawzi Hamad al-Sultan, arrived
\nhere yesterday for a five-day visit to sign a loan agreement and
\nto discuss other assistance for Indonesian projects.<\/p>\n
A spokesman for the Ministry of Finance, Agus Haryanto, said
\nyesterday that IFAD's president is scheduled to sign an agreement
\non a loan for an Eastern Islands Small-holder Cashew Development
\nProject with the Indonesian government today.<\/p>\n
The project is expected to increase food production in the
\ncountry's eastern islands of Flores, Lombok, Sumba, Sumbawa, West
\nTimor and Yamdena.<\/p>\n
According to a report of the IFAD representative office here,
\nthe project will need US$43.16 million to operate and the IFAD
\nwill grant $26 million of this.<\/p>\n
Agus said al-Sultan would have meetings with Coordinating
\nMinister for Economy and Finance Saleh Afiff, Minister of Finance
\nMar'ie Muhammad, Minister of Agriculture Sjarifudin Baharsjah and
\nState Minister of National Development Planning\/Chairman of the
\nNational Development Planning Board Ginandjar Kartasasmita.<\/p>\n
The spokesman said al-Sultan, who is accompanied by IFAD's
\nAsia Pacific division director Shiv Nath Saigal and the
\ncoordinator of IFAD projects in Indonesia Jeremy G.L. Wall, would
\nalso have meetings with representatives of the United Nations,
\nthe World Bank and the Asian Development Bank during his
\nIndonesian visit.<\/p>\n
IFAD is one of the members of the Consultative Group for
\nIndonesia (CGI), which is chaired by the World Bank. The group
\nannually holds a meeting in Paris in the middle of the year to
\ndiscuss new aid commitments for Indonesia.<\/p>\n
Agus said al-Sultan and his entourage will also visit projects
\nfinanced by IFAD, such as the Income Generating Project for
\nMarginal Farmers and the Landless (P4K) in Java, Bali and Nusa
\nTenggara and the Rainfed Agriculture Project (P2LK) in East Java.<\/p>\n
Agus said IFAD has so far assisted the Indonesian government
\nin financing seven agricultural projects since 1980. According to
\nthe fund's report, it has granted a total of US$150.93 million to
\nthe government for the seven projects with a total cost if $393.3
\nmillion.<\/p>\n
IFAD, established in December 1977 with headquarters in Rome,
\ncurrently has 157 countries as members, including 22 advanced
\ncountries, the 12 members of the Organization of Petroleum
\nExporting Countries (OPEC) and 123 poor countries. (02)<\/p>",
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