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NEWS UPDATES 23 October 2009

Japan remains Indonesia’s largest creditor

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Japan is so far the largest lender to Indonesia having provided loans totaling $22.33 billion or around 43.2 percent of the country`s total foreign debt in 2009, state news agency Antara quoted INFID Exececutive Director Don K Marut as saying.

"Japan is recorded as the biggest lender to Indonesia with its loans reaching $29.61 billion in 2008 and $27.33 billion in 2009," the director of International NGO Forum on Indonesian Development (INFID) said on the sidelines of a training event for researchers in Jakarta on Thursday.

Don said the biggest lenders after Japan were the Asian Development Bank (ADB) with loans in 2008 reaching $10.87 billion and in 2009 $10.80 billion ,followed by the World Bank with loans totaling $8.96 billion in 2008 and $8.88 billion in 2009.

He said Japan had extended loans to Indonesia through three mechanims, namely directly through Japanese donor agencies and indirectly through the ADB and the International Monetary Fund.


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