IDB helps Indonesia

IDB helps Indonesia

JAKARTA (JP): The Islamic Development Bank will give Indonesia
a US$120 million soft loan to support the procurement of
fertilizer for farmers.

Head of the Agribusiness Agency at the Ministry of Agriculture
Ato Suprapto said the funds would be extended to state-owned
fertilizer companies PT Petrokimia Gresik and PT Pupuk Sriwijaya.

"Petrokimia will use the fund to import superphospate
fertilizers, SP-36 and rock phosphate direct application, while
Pusri will use the fund to import KCl (Potassium chloride) and
TSP (Trisuperphospate)," Ato said.

He said the soft loan would carry an interest rate of four
percent per annum, below the London Inter-Bank Offered Rates
(Libor), and would have a grace period of 10 years. (gis)