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ADB approves 100 million USD loan to Indonesia to build infrastructure

09:27 | 26/10/2019

The Asian Development Bank (ADB) has approved a 100 million USD loan to the Government of Indonesia to help boost private sector investments in infrastructure projects.


A light rail transit project under construction in Jakarta, Indonesia (Photo: AFP/VNA)

“The loan will help mobilize private sector investments to develop and finance much-needed infrastructure projects,” ADB Country Director for Indonesia Mr. Winfried F. Wicklein said in a news release. “ADB’s assistance will help close the infrastructure financing gap in Indonesia and raise the quality and standards of infrastructure projects.”

Indonesia’s infrastructure financing gap remains significant, with annual investment needs estimated to be more than 70 billion USD. Accelerating infrastructure development is a development priority of the Indonesian government.

In May this year, the ADB committed 2.6 billion USD this year to support Indonesia, primarily in infrastructure development./.

VNA

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