Germany converted Indonesia’s USD 70.8-million debt into a health initiative fund called the Debt2Health Program to fight HIV/AIDS, tuberculosis and malaria. The conversion was executed under a condition that Indonesia would invest half of the debt value in national health projects that would combat the three deadly diseases. The debt swap mechanism is being spearheaded by the Global Fund to fight AIDS, tuberculosis and malaria, and Germany is the first country to express support in the fund’s program. According to German development minister Heidemarie Wieczorek-Zeul, the Debt2Health project hopes to buttress Indonesia’s health sector while permitting Germany to keep its commitment in fighting AIDS, tuberculosis and malaria. The European country will also be directing roughly USD 283.4 million in financial aid to the Global Fund’s health programs through the Debt2Health system in the next four years. (Source: RI debt to Germany converted into health program/Antara News)
