World Bank to Join Toll Road Project
\nMonday, 16 October, 2006 | 14:01 WIB<\/p>\n
TEMPO Interactive, Jakarta: The World Bank will join financing the construction of the trans-Java toll road project that the government is offering.<\/p>\n
The World Bank will involve its subsidiary, the International Finance Corporation, in this infrastructure project.<\/p>\n
Andrew Steer, the Head Representative of the World Bank for Indonesia, said that the World Bank would act as the coordinator of the consortium for infrastructure projects.<\/p>\n
\u201cNot by joining in the auction, but by organizing the setting up of the consortium,\u201d he said when meeting with Vice President Jusuf Kalla last week.<\/p>\n
As regards the investment that will be disbursed in the project, Andrew stated that he could not publish details as yet.<\/p>\n
According to him, the World Bank had financed the building of the Cikampek-Jakarta toll road some time ago.<\/p>\n
Last September, the World Bank disbursed aid amounting to US$208 million for the construction of road and clean water projects in Java.<\/p>\n
Previously, Lars Thunell, Executive Vice President of the International Finance Corporation, said that the IFC will increase its investment in Indonesia to around US$2.5 billion.<\/p>\n
Currently, standing loans amounts to US$700 million and last year, loans for Indonesia reached US$250 million.<\/p>\n
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