Bank Mandiri allocates Rp 2.2 trillion for electricity sector
Wednesday, August 4 2004 - 02:49 AM WIB
State owned Bank Mandiri allocates around Rp 2.2 trillion this year to meet the growing need of investment funds for the development of the country's electricity sector, Bisnis Indonesia reported on Wednesday.
Vantje Rahardjo said in Jakarta on Tuesday that Indonesia would need at least US$27.02 billion to develop the country's electricity infrastructure within the next five years. Of the total, about Rp 150 trillion should come from the banking system, and the remaining 30 percent will come from investors.
If Bank Mandiri and the other three state owned banks, Bank BNI, Bank Rakyat Indonesia and Bank Tabungan Negara could work together, such an amount of funds could be easily fulfilled, he said.
"For this year alone, Bank Mandiri has allocated credits worth at least Rp 2.2 trillion to finance the electricity facilities. This is in line with the bank's program to give more credits for infrastructure development," he said. (*)