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ADB lends over $300 mln each to Indonesia, India |
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| PHILIPPINES: December 20, 2002 | ||
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MANILA - The Asian Development Bank said on Friday it would provide over $300 million in loans and grants for Indonesia's energy sector.
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The Manila-based multilateral lending agency also said it would extend a $313.6 million loan to help improve India's railway system plus a technical assistance grant worth $500,000. For Indonesia, ADB said it would lend $140 million to help create a new competitive electricity market in Java and Bali and reduce transmission bottlenecks. ADB also approved a $161 million loan to expand Indonesia's renewable energy generation capacity to bring more reliable and cleaner power to remote regions. It will also administer a technical assistance grant of $800,000 from its Danish cooperation fund to pilot a scheme which would allow 10,000 low-income families in outer islands in Indonesia to defer the start-up costs of connections.
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REUTERS NEWS SERVICE
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