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Indonesia in talks with development banks for loans totalling $7 billion - Metro US

Indonesia in talks with development banks for loans totalling $7 billion

FILE PHOTO: Indonesia's Finance Minister Sri Mulyani Indrawati attends the World Economic Forum on ASEAN at the Convention Center in Hanoi

JAKARTA (Reuters) – The Indonesian government is in talks with development banks for loans totalling $7 billion to finance its COVID-19 relief efforts, Finance Minister Sri Mulyani Indrawati told a call with investors.

The institutions tapped include the World Bank, the Asian Development Bank, the Asian Infrastructure Investment Bank, Germany’s KFW and Japan International Cooperation Agency, another finance ministry official told the call.

Indonesia raised $4.3 billion in a recent dollar bond sale to help fund its battle against the virus. Minister Indrawati said pricing was comparable with similar issuance in the past two years.

(Reporting by Tabita Diela, Gayatri Suroyo and Fransiska Nangoy; editing by John Stonestreet)

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