Economy & Business

CGI Grants Total Loan of US$3.4 Billion
Tuesday, 25 January, 2005 | 09:30 WIB

TEMPO Interactive, Jakarta:The member countries of the Consultative Group on Indonesia (CGI) have state their commitment to provide loans to the tune of US$2.8 billion.
These loans are ordinary loans, which shall be allocated through the State Budget, and different to the aid funding for handling the tsunami disasters in the provinces of Nanggroe Aceh Darussalam (NAD) and North Sumatra.

“There are also grants amounting to US$600 million, designed to be used for other purposes than the tsunami disaster,” said Indonesian Coordinating Minister for the Economy Aburizal Bakrie in a press conference at the Bank Indonesia office in Jakarta on Thursday (20/01).

According to Bakrie, the total committed loans received by Indonesia shall amount to a total of US$3.4 billion, apart from the special funds given for handling the impacy of tsunami disasters in Aceh.

Indonesia will also receive US$1.7 billion to handle the tsunami disasters in Aceh and North Sumatra.
Of this, US$1.2 billion comes in the form of grants and US$500 million comes in the form of soft loans from creditor countries that are also members of the CGI.
(Amal Ihsan – Tempo News Room)