http://news.id.msn.com/regional/article.aspx?cp-documentid=1821618
The Asian Development Bank has approved a 350 million dollar loan to Indonesia to help improve the "financial and economic management" of its burgeoning local governments, the bank said Thursday.
The ADB loan is aimed at improving accountability in local and provincial governments, which have multiplied in number and expanded their power in a radical decentralisation push started in 1999, the bank said in a statement.
"This program will generate significant benefits for the financing and delivery of local services, and in the development of badly-needed capacity," ADB's Southeast Asia head Arjun Thapan said.
"ADB believes that in pursuing these reforms, Indonesia is creating a solid base for growth," he said.
The ADB did not elaborate in its statement on when the loan would be granted to Indonesia or what the terms of repayment would be.
The bank this week confirmed it will give Indonesia 700 million dollars in loans for 2009 to be used in a capital markets development program and another program aimed at overhauling governance and policy.
It will also provide 280 million dollars in loans to Indonesia to assist in preparing infrastructure projects to be tendered to private-sector developers.(*)
The Asian Development Bank has approved a 350 million dollar loan to Indonesia to help improve the "financial and economic management" of its burgeoning local governments, the bank said Thursday.The ADB loan is aimed at improving accountability in local and provincial governments, which have multiplied in number and expanded their power in a radical decentralisation push started in 1999, the bank said in a statement.
"This program will generate significant benefits for the financing and delivery of local services, and in the development of badly-needed capacity," ADB's Southeast Asia head Arjun Thapan said.
"ADB believes that in pursuing these reforms, Indonesia is creating a solid base for growth," he said.
The ADB did not elaborate in its statement on when the loan would be granted to Indonesia or what the terms of repayment would be.
The bank this week confirmed it will give Indonesia 700 million dollars in loans for 2009 to be used in a capital markets development program and another program aimed at overhauling governance and policy.
It will also provide 280 million dollars in loans to Indonesia to assist in preparing infrastructure projects to be tendered to private-sector developers.(*)
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