IDB okays Indonesian deal

Tue, 01 Dec 1998 | Source: DJ

MANAMA, Bahrain (Dow Jones): Jeddah-based Islamic Development Bank (IDB) has agreed to finance food and medicine imports worth US$280 million to Indonesia, the IDB said on Monday.

The trade financing agreement was signed Sunday by IDB chief executive Ahmed Ali and Indonesian Ambassador to Saudi Arabia, Zarkowi Soejoeti, the bank said. The money will be used to import rice, foodstuffs and medicine.

The agreement is part of a $500 million aid package, recently allocated by the IDB to Indonesia to help it overcome financial problems.

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