Canada offers RI $198m in aid

Canada offers RI $198m in aid

JAKARTA (JP): Canada yesterday offered a C$280-million (US$198
million) bilateral support package for Indonesia to help the
country overcome its economic crisis.

Canada's Secretary of State for Asia-Pacific Raymond Chan told
journalists that the package included C$250 million in
agricultural export credit facilities through the Canadian Wheat
Board.

It also covered C$20 million in export credits from the Export
Development Corporation for "essential imports" such as food and
medicine and more than C$9 million for humanitarian aid through
the Canadian International Development Agency.

Chan, together with Secretary of State for International
Financial Institutions Jim Peterson, was leading a special
mission here. They met President Soeharto Tuesday.

Canada and Indonesia sealed yesterday a protocol amending
their double taxation agreement. The protocol was signed by
Canadian Ambassador to Jakarta Gary J. Smith and witnessed by
Peterson.

Peterson said after the signing that Canada would continue to
do its share to help Indonesia address and limit the social
impact of the economic crisis and support Indonesia in
implementing the International Monetary Fund-sponsored reforms.

"Through the signing of the protocol today, we underline our
shared confidence that, while the economic crisis currently
facing the region will inevitably have an impact on trade and
investment numbers, it is a temporary situation only.

"Canada believes strongly that Indonesia will return to a path
of strong and sustainable economic growth, and that our
relationship will continue to grow in importance," Peterson said.

He said bilateral trade exceeded C$1 billion last year, while
Canadian investment in Indonesia totaled some C$8 billion. (rid)