ADB loans RI $130m

Wed, 18 Jan 1995

ADB loans RI $130m

JAKARTA (JP): The Asia Development Bank (ADB) has agreed to provide loans worth US$130.19 million for the Indonesian government to finance educational and development projects.

The Ministry of Foreign Affairs announced yesterday that under an agreement signed last week, a 25-year $85 million loan would be allocated for vocational and technical education projects, a 35-year $17.47 million loan for a micro-credit project and a $27.72 million loan for a capacity building project in the water resources sector.

The loan agreement was signed in Manila by ADB President Mitsuo Sato and Indonesian Ambassador to the Philippines Pieter Damanik. (mds)

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