Japan lends RI $430 million

Japan lends RI $430 million

TOKYO (AFP): Japan is to give Indonesia 50 billion yen (US$430 million) in low-interest loans to build roads and increase the country's agricultural production, the foreign ministry said Friday.

The money is part of the 150 billion yen Japan pledged to lend to Indonesia in July this year, a ministry official said.

"The loans will be used to build roads, provide irrigation, and help increase Indonesia's agricultural production," the official said, adding the aid would also go to job training programs there.

The contract for the loans was signed in Jakarta Friday, he added.

With the latest 50 billion yen, Japan has extended 3.25 trillion yen in loans to Indonesia since 1966, the official said.

Indonesia is Japan's largest recipient of yen loans, he said.