ADB loan for RI roads

ADB loan for RI roads

MANILA (Agencies): The Asian Development Bank said yesterday
it approved a US$180 million loan to improve roads in the eastern
part of Indonesia.

The money will help finance the government's public works
program to improve national and provincial roads in 13 provinces,
enabling them to catch up with faster-growing parts of the
country, the Manila-based bank said in a statement.

The loan, from the bank's ordinary capital resources, is
repayable in 24 years.

The ADB also approved a $157-million loan and two technical
assistance grants worth $1 million to China for an environmental
protection project aimed at enhancing environmental management
and expand natural gas distribution to address the pollution
problem caused by China's increasing reliance on coal-fired
plants to power its fast-paced economic growth.

The bank said it is also investing an additional $417,000 in
Lanka Ventures Ltd., a Sri Lankan venture capital company.