JBIC to Finance 2 Indonesian Power Plant Projects

    The Japan Bank for International Cooperation is ready to lend up to $1 billion for the construction of two power plants in Indonesia, the head of bank has announced.

    JBIC Executive Director Fumio Hoshi said that talks for the financing of the two power plants are in the final stages, the Jakarta Post reports. He added that JBIC expects the tender process to be completed soon.

    The projects include the a coal-fired power plant in Central Java and a geothermal power plant in North Sumatra, the Jakarta Post says. JBIC is also considering financing the development of other geothermal power plant in Sumatra, Hoshi said.

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    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.