IDB okays Indonesian deal

Tue, 01 Dec 1998, 00:00 WIB | 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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