IDB loans Indonesia $700m

Mon, 14 Sep 1998, 00:00 WIB | Source: AFP

RIYADH (AFP): The Islamic Development Bank (IDB) has extended
Indonesia a loan of US$700 million to ease its financial crisis,
the IDB announced Sunday.

The Saudi-based bank said $500 million was earmarked for
imports of food and medicine, and another $100 million each for
development projects and to support the stock market.

The 52-member Organization of the Islamic Conference (OIC)
founded the bank in 1975.

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