RI gets loan from ADB

RI gets loan from ADB

MANILA (Reuter): The Asian Development Bank (ADB) said
yesterday it had approved an US$80 million loan for Indonesia to
strengthen its technological capabilities in industrial research.

"The project is designed to upgrade the quality of industrial
products in the country's key economic sectors," the ADB said in
a statement.

The funds will be spent to bolster research in the textile,
ceramics, metals, machinery, leather, handicrafts, and marine
industries.

"International consultants will be engaged to assist in
preparation of business plans for industrial research and
development institutes," the Bank added.

The loan will come from the ADB's ordinary capital resources.
It can be repaid over 25 years, including a grace period of five
years.

Interest was set at 6.9 percent per annum. Principal and
interest will be paid twice.