ADB new president in town

ADB new president in town

JAKARTA (JP): The new president of the Manila-based Asian
Development Bank (ADB) Tadao Chino began his two-day official
visit here on Tuesday.

The Ministry of Finance said during his trip, Chino, who was
installed last month, will visit President B.J. Habibie and his
economic team.

ADB has been committed to assisting Indonesia reform and
restructure its financial sector and real sector, as well as
supporting the poor affected by the economic crisis.

ADB plans to extend between US$1.4 billion and $1.6 billion in
financial assistance to Indonesia this year for the restructuring
of the power sector, the deregulation of industry and trade and
the development of small, middle and state enterprises.

Last year, it agreed on two loan packages including a US$1.5
billion for financial sector reforms and a $300 million loan for
the development of social welfare. (jsk)