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Thursday, February 09, 2006

Indonesia Receives U$150 Million Worth in Loan From IDB Annually

Indonesia received at least US$150 million worth in loan from the Islamic Development Bank (IDB) annually, a minister said.Speaking in a hearing with the House`s Commission XI at the parliamentary building here on Wednesday evening, Finance Minister Sri Mulyani Indrawati said IDB provided a mark up (a term used by IDB for interest) of about five to six percent.

The total loan from IDB till December 31, 2005 was recorded at US$344 million, which was used to finance 43 government and private projects, while the amount of loan received from Saudi Fund since 1976 till December 31, 2005 has reached over one billion US dollar, she said.

The minister further pointed out that with a five to six percent mark-up (interest), IDB`s loan was relatively high if compared to such soft loan provided by Japan with interest rate ranging from 1.3 to 1.5 percent. Loan from Japan till now has reached over 50 percent of Indonesia`s total foreign debt, she noted


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