Kepri Provincial Government signs Rp400 billion regional loan with Bank BJB

The Kepri Provincial Government has signed a regional loan agreement worth Rp400 billion with Bank Pembangunan Daerah Jawa Barat dan Banten (Bank BJB). Governor Ansar Ahmad said the collaboration is part of the provincial government’s efforts to strengthen financing for regional development amid fiscal constraints or the Regional Revenue and Expenditure Budget (APBD). ‘The loan will be used to fund infrastructure development across the regencies and cities of Kepri,’ Ansar said in Tanjungpinang on Friday. He explained that a total of 41 strategic projects will be funded through the regional loan scheme, ranging from road and bridge construction to ports. ‘These projects will be tendered soon, then go into construction management and physical implementation,’ he added. He further said the repayment of the Rp400 billion loan at a 7.75 percent interest rate is targeted to be completed within three years, or by the end of the term of the Kepri Governor and Deputy Governor. The Kepri provincial government remains committed to fiscal stability while ensuring all development programmes proceed as planned. ‘Social contributions through CSR are expected to bolster the regional budget to help improve people’s welfare,’ he said. Ansar appreciated Bank BJB for supporting development programmes in Kepri through the regional loan scheme. He hopes the cooperation will run smoothly and bring substantial benefits to the people.