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Jakarta Post

IDB’s $5.2b loan pledge until 2020 to aid RI’s priority projects

  • Prima Wirayani

    The Jakarta Post

  /   Thu, May 19 2016   /  08:54 am

The Islamic Development Bank (IDB) has committed US$5.2 billion worth of loans until 2020 to aid Indonesia’s priority development projects.

“The prioritized sectors include energy, transportation, urban development, higher education and skills development, private sector development and Islamic financial broadening,” said Finance Minister Bambang Brodjonegoro.

The projects will be in line with the country’s 2015-2019 medium-term development plan (RPJMN). This is the second batch of loans of such kind for Indonesia, dubbed the member country partnership strategy (MCPS), after $2.5 billion was pledged for the period of 2011 to 2014 to finance key development areas such as infrastructure and private sector development.

The IDB will work with other donors and lenders, including the World Bank, the Asian Development Bank (ADB) and China-backed Asian Infrastructure...