Asian Development Bank OK's 1-billion-dollar loan for Indonesia

Business News

Jun 4, 2009, 3:36 GMT

Manila - The Asian Development Bank (ADB) said Thursday it has approved a 1-billion-dollar loan to help Indonesia sustain key public expenditures for poverty alleviation, social protection and infrastructure maintenance amid the global economic crisis. The Manila-based ADB said the loan will allow Indonesia to enhance its financial safety net, better mobilize funds for commercial markets and maintain financial sector stability. The bank noted that the crisis has significantly hindered Indonesia's ability to access funds from credit markets. 'The global financial crisis has made it expensive for Indonesia to access international debt markets and trade finance, which could constrain spending on essential services and poverty alleviation programmes,' said Jaseem Ahmed, director of ADB's financial sector public management and trade division. 'This loan will enable the government to maintain public expenditures and to respond more effectively to the poverty impacts of the financial crisis,' he added. The ADB said the loan will have a 15-year-term, including a three-year grace period.

And Also

The Decade: Film's 10 Best Music Moments In The Aughts

The Decade: Film's 10 Best Music Moments In The Aughts - Cinema Blend
Steam erupts from Dell's Alienware gaming PCs - The Tech Herald
Roasted Baby on Spit Was 'Too Much' for 'Road' Director - PopEater
Chris Rock interview, Sons of Anarchy and Woody Allen shout out for 'Madagascar' star

Your Talkback on this Story

Similar articles

Indonesian central bank cuts key rate for ninth straight month
Indonesian forecasts 5-per-cent economic growth for 2010
Indonesian central bank cuts key rate for eighth straight month
Indonesian finance minister nominated for central bank chief
IMF: Indonesian economy to grow 3-4 per cent this year

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

From Sites we Like

Old and Busted: Crashing a wedding reception. New Hotness: Crashing Obama's first State Dinner [Amusing]
Truthers won't be getting much sleep this week after Wikileaks posts 573,000 pager messages from 9/11 [Interesting]
Photoshop this Unisphere [Photoshop]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint