ADB to provide $301 million in loan for power projects outside Java
Monday, November 25 2002 - 09:13 AM WIB
Asian Development Bank (ADB) will provide US$301 million in loan for the Indonesian government which will use it for its power projects outside of Java Island, a senior government official said on Monday.
The loans will be disbursed in September 2003, and will be used for producing 30 megawatts of electricity using renewable energy resources, and for power transmission projects, said Luluk Sumiarto, director general of electricity and energy development at the Ministry of Energy and Mineral Resources.
The ADB loan will be repaid after 25 years including 5-year grade period, with annual interest of 0.6 above LIBOR, Luluk told reporters.
Luluk said the power producing projects would include 10 geothermal and micro-hydro power plants.
He said the government had opened tender for the power projects. (godang)