Three agricultural projects confirmed<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
A recent trip by a government delegation to the Middle East
\nappears to be bearing fruit as the Islamic Development Bank (IDB)
\nhas confirmed it will provide financing of up to US$120 million
\n(some Rp 1.12 trillion) for the development of agricultural
\ninfrastructure projects here.<\/p>\n
The Minister of Agriculture Anton Apriyantono said during a
\nhearing with legislators late on Wednesday that the financing, in
\nthe form of soft loans, could be disbursed by the end of the
\nyear.<\/p>\n
The projects consist of the $35 million rehabilitation of the
\nirrigation scheme in Jatiluhur, West Java, the $50 million
\ndevelopment of a reservoir to mitigate the effects of drought
\nalong the north coast of Java, and the $35 million rehabilitation
\nof damaged agricultural infrastructure in tsunami-wrecked Aceh.<\/p>\n
The three schemes are part of 10 agricultural projects worth
\n$1.57 billion that were put on the table during a recent trip to
\nthe region by a government delegation led by Minister of
\nAgriculture Anton Apriyantono.<\/p>\n
"Of the 10 projects we proposed, these are the ones that have
\nbeen confirmed by the IDB," said the ministry's director general
\nfor agricultural infrastructure Ato Suprapto, adding that a
\nformal agreement was expected to be signed before July.<\/p>\n
Ato added that although the details were still being worked out
\nwith the IDB, the soft loans could carry interest rates as low as
\nless than 1 percent per annum over 12-year terms.<\/p>\n
Ato said that financing for the eight remaining projects was
\nbeing sought from the Kuwait Development Fund and the Saudi
\nDevelopment Fund.<\/p>\n
He added that the Saudi Development Fund had pledged a
\nseparate soft loan of about $50 million for infrastructure and
\nagriculture rehabilitation projects in tsunami-devastated Aceh.
\n(002)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/three-agricultural-projects-confirmed-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}