President to open IDB forum

JAKARTA (JP): President Abdurrahman Wahid is scheduled to open a symposium to commemorate the 25th anniversary of the Islamic Development Bank (IDB) to be held at Balai Sidang, Jakarta, on June 26.

Representatives from country members of the Islamic Conference Organization, international financial agencies, ministers of the current Cabinet as well as businesspeople are expected to attend.

Indonesia has so far received cumulative loans totaling US$1 billion from the IDB, which are given in different forms like two-step loans, istina' loans, leasing, installment sale, equity and profit sharing.

IDB loans are mostly used to finance government and private health, education, social and economic projects. (cst)