World Bank gives USD800 million loan to Indonesia

The World Bank gave the go signal for two development policy loans to help India develop its pro-poor reforms and infrastructure program. The amount includes USD600 million for the Fourth Development Policy Loan and USD200 million for the First Infrastructure Development Policy Loan. The Indonesian government plans to use the low-cost loans to reduce the nation’s debt levels, which have plummeted rom 80 percent of the GDP in 2000 to 35 percent at present, said a statement from the World Bank. “The DPL program reflects the mature relationship between Indonesia and its international development partners,” enthused World Bank country director Joachim von Amsberg. “With continued progress on these reforms, Indonesia can achieve even higher and more broad-based growth that would lead to rapid poverty reduction.”

Source: World Bank grants Indonesia $800 mln in development policy loans (Xinhua)

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