Korean aid to Indonesia

Thu, 06 Jul 1995, 00:00 WIB | Source: JP

JAKARTA (JP): The South Korean government will give Indonesia
a soft loan of US$10.65 million for financing vocational training
facilities in various provinces.

Korean Ambassador Hyung-Ki Min and Director General for
Foreign Economic Relations D.M. Brotodiningrat, at the foreign
ministry, exchanged the notes on the loan here yesterday.

The loan, which will be extended by the Economic Development
Cooperation Fund through the Export-Import Bank of Korea, will
mature in 25 years, including seven years of grace period, and
carries an annual interest rate of 3.5 percent.

A portion of the loan can be used for local-cost financing.
(vin)

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