Two agricultural projects confirmed<\/p>\n
The Jakarta Post
\nJakarta<\/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$130 million
\n(some Rp 1.2 trillion) for the development of two irrigation
\nprojects here.<\/p>\n
The Ministry of Agriculture's director general for
\nagricultural infrastructure, Ato Suprapto, said during a hearing
\nwith legislators late on Wednesday that the financing, in the
\nform of soft loans, could be disbursed by the end of the year.<\/p>\n
The two projects consist of the $50 million rehabilitation of
\nthe irrigation scheme in Jatiluhur, West Java, and the $80
\nmillion development of a reservoir to mitigate the effects of
\ndrought along the north coast of Java.<\/p>\n
The two 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
Anton said that financial support from external sources was
\nneeded because of the country's limited self-financing
\ncapability.<\/p>\n
"Of the 10 projects we proposed, these are the ones that have
\nbeen confirmed by the IDB," said Ato.<\/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\/two-agricultural-projects-confirmed-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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