IDB offers ?help? to Indonesia

The Islamic Development Bank is offering financial assistance to Indonesia, including a guarantee for the purchase of crude and oil products from Middle East and loans to finance power projects.

Minister of Energy and Mineral Resources Purnomo Yusgiantoro said the bank would guarantee one-month delay in payments by Indonesia for the purchase of crude and oil products from Middle East countries.

With regards the loan offers for the development of power projects, Purnomo said, the Indonesian government would accept the loan offers if the Chinese contractors with whom the government had signed agreements to build the projects would not turn down the offers.

?The IDB asked why Indonesia has never asked for loans from the bank, while Malaysia has often done it,? Purnomo said.

Purnomo also said Arab countries had voiced commitment to export crude and oil products to Indonesia.

Arab investors also voiced interest in investing in Indonesia?s mining sector. (Godang)