S Korea Grants US$600 Mn to Indonesia

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VIVAnews - The South Korean government grants loans to Indonesia by US$600 million to help the country develop three sectors, one of which is concerned with the reconstruction of Karian dam in Banten, West Java.

The credit agreement was signed by Director General of Asia, Pacific and Africa, Hamzah Tayeb and South Korean Ambassador to Indonesia, Kim Ho-Young today, Dec 27.

Earlier, during the EDCF period of between 2007-2008, South Korea granted US$149.9 million of loans to fix up hospitals in Indonesia as well as infastructure development in Padang, West Sumatra.

According to a statement released by the South Korean Embassy, two projects will be worked on between 2010 and 2013.

"US$100 million will be allocated to rebuild Karian dam and US$40 million is for improving the radio communication system of the National Police," stated the press release.

EDCF is a fund aid for developing countries which was initiated in 1987.

As many as 47 countries have received the ECDF loans. Indonesia is the second country on the list to receive such loans.

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Translated by: Bonardo Maulana W

• VIVAnews

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27 Dec, 2010

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Source: http://en.vivanews.com/news/read/196008-s-korea-grants-us-600-mn-to-indonesia
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