President to open IDB forum

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)