PLN obtains $1.1 b loans from ADB, WB
Thursday, December 1 2016 - 04:43 AM WIB
PLN
State-owned electricity firm PT PLN has obtained loans worth US$1.1 billion from the Asian Development Bank and World Bank to finance the development of electricity infrastructure facilities in Sumatra, Investor Daily reported on Thursday.
PLN Business Director for Sumatra Region, Amir Rosidin said that the ADB provided $600 million, while WB $500 million.
He said that the five-year loan facility has been effective, and will be used to finance the development power networks, transformers and other facilities.
The move forms part efforts to increase electrification ratio in Sumatra, which currently stands at 84 percent, to 87 percent next year, and 97 percent in 2019, he said. (*)