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Jakarta Post

US provides over $1b for RI airline upgrades

  • Ika Krismantari

    THE JAKARTA POST

JAKARTA   /   Tue, April 7 2009   /  11:05 am

The United States Export-Import Bank approved more than US$1 billion in financing for Indonesian airlines to improve passenger fleets, generate business and create jobs in Indonesia and throughout the region.   In a press statement in Jakarta on Monday, the US Embassy said the financing was made possible after the ratification and implementation of the Cape Town Treaty, which allows Indonesian airlines to save millions of dollars in financing costs.   “This financing allows Indonesian-registered companies to gain very competitive rates and favorable credit similar to the most advanced countries in the world,” said US Ambassador Cameron R. Hume. “This action by the US is a vote of confidence for the improvement of aviation regulation and the general business environment in Indonesia,” said Henry Bakti, the Indonesian Transportation Ministry’s director general...