Indonesia gets US$800m loan from World Bank for policy reform

[JAKARTA] Indonesia has received an US$800 million loan from the World Bank to accelerate policy reforms in trade and investment, the finance ministry said in a statement on Friday.

The loan will be used as part of government efforts to open more sectors to private investment, especially in renewable energy, improve access to basic food and facilitate access to the manufacturing sector, it said.

The World Bank approved the loan earlier this week.

The multinational lender has provided Indonesia at least US$900 million in other loans this year to help deepen its financial markets and for programmes to strengthen the response to natural disasters.

REUTERS