Mon, 02 May 2011
Jakarta (ANTARA News) - China has pledged US$8 billion in commercial funds for Indonesia to support infrastructure and industrial development in the country.

Visiting Chinese Prime Minister Wen Jiabao said at a joint press conference with President Susilo Bambang Yudhoyono here on Friday the funds would be given along with soft loans worth US$1 billion to increase Indonesia`s exports to China.

"China will provide US$1 billion in soft loans and US$8 billion in commercial funding for Indonesia to support its infrastructure and industrial development," Jiabao said.

On the occasion Jiabao underlined the importance of trade cooperation between the two countries and said that the two countries had huge market potentials for development.

"Economic and trade cooperation between the two countries will be the focus of the discussion between me and President Yudhoyono," he said.

He said Indonesia and China must cooperate to combine strategies that could develop the two countries` superiorities for the benefit of the two countries.

Jiabao in the visit also carried a business delegation to sign ten business agreements with private parties worth US$10 billion.

President Yudhoyono on the occasion said that in the meeting with Prime Minister Jiabao he had emphasized the importance of close and balanced economic cooperation between the two countries so that the cooperation would bring real benefit to the two countries.

President Yudhoyono also said that China in the meeting had also expressed its commitment to increasing investment in Indonesia and appealed to Chinese businessmen to increase imports of goods from the Indonesia.

Indonesian coordinating minister for economic affairs Hatta Rajasa said China had fully referred to Indonesia with regard to the use of the US$8 billion commercial funds.

"They provide the funds for infrastructure development but it is up to us which of the four main areas would be given a priority. With regard to energy we would promote green energy. The others are about clean water, infrastructure in its wide sense which can be roads and others and infrastructure to support connectivity," he said.



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