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Jakarta Post

Mandiri: Rp 12t for investment in Papua

  • The Jakarta Post

Jakarta   /   Fri, October 9 2009   /  01:55 pm

State-owned bank PT Bank Mandiri announced on Thursday its commitment to allocate up to Rp 12 trillion (US$1.27 billion) in loans to finance investment in Papua and West Papua provinces. "We are committed to increase the annual value of loans by 10 times to between Rp 8 trillion and Rp 12 trillion," said Mandiri president director Agus Martowardojo on the sidelines of the Papua Investment Day in Jakarta. Mandiri hosted the two-day event, which ended on Thursday, to promote investment opportunities in the two provinces to its clients. Eighty five potential investors and representatives from 11 state-owned enterprises attended the event, as well as the Indonesian Chamber of Commerce and Industry (Kadin) and provincial governments. Agus added that the bank had made far fewer loans in Papua than it had the potential to, despite operating in the province for more than four...