Korean aid to Indonesia

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)