The $1 billion loan is separate from the June 2018 $1 billion in credit ADB had approved for Indonesia to support fiscal reforms and promote investments.
On Tuesday, an official from Indonesia’s finance ministry stated, the Asian Development Bank (ADB) will lend $1 billion to the Indonesian government next week.
“Next week a $1 billion loan from ADB will be disbursed, the process is almost complete,” said Scenaider Siahaan, director of borrowing strategy at Indonesia’s finance ministry.
The loan amount is separate from a combined $1 billion in credits the ADB approved in June 2018 for Indonesia to support fiscal reform and promote investment, clarified Siahaan.
Previously, Indonesia’s finance ministry had stated, it would reduce its bond issuance for 2018 following a rise in yields across the curve during an emerging market sell-off.