June 8, 2018 / 9:30 AM / 2 months ago

ADB loans Indonesia $1 bln to support fiscal, investment-climate reforms

JAKARTA, June 8 (Reuters) - The Asian Development Bank has approved two policy-based loans totalling $1 billion for Indonesia to support fiscal reform and promote investment, the bank said on Friday.

The first $500 million will go to programmes to improve government budget preparation, transparency and monitoring, the ADB said, adding that the second $500 million will be for the government to ease investment constraints.

Both loans will be complemented by the equivalent of 200 million euro ($235.26 million) in parallel financing from KfW, the German government’s development cooperation bank, the ADB said.

$1 = 0.8501 euros Reporting by Gayatri Suroyo; Editing by Richard Borsuk

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