$102 million from Germany

$102 million from Germany

JAKARTA (JP): Germany will provide DM160 million (about US$102
million) for social infrastructure development and environmental
protection projects in Indonesia.

The documents were signed by the Director General for Foreign
Economic Relations of the Ministry of Foreign Affairs, Wisber
Loeis, and German ambassador Walter Lewalter yesterday.

Of the assistance, DM30.6 million will be made available as
grants for projects in the fields of social infrastructure
development and environmental protection.

DM129.4 million will be extended as soft loans. The loans
mature in 40 years, including a 10-year grace period, and carry
an interest rate of 0.75 percent per year.

This amount will finance the construction of energy
transmission systems in Kalimantan and Sumatra, the
rehabilitation of aging locomotives and the construction of
passenger ferries. (pwn)