ADB signs Indonesian aid

JAKARTA (JP): The Manila-based Asian Development Bank (ADB) has agreed to provide Indonesia with US$115 million in loans to partly finance poverty eradication projects in the country's six less developed provinces in Kalimantan and Sulawesi.

The loan was signed in Manila by ADB's president Tadao Chino and the Indonesian ambassador to the Philippines Soeratmin.

The projects called "Community Development for Rural Development Project" was designed to reduce poverty by increasing the incomes of about 425,000 people or 85,000 poor families. Of these about 370,000 people or 74,000 poor families are expected to move above the poverty lines. (hen)