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Indonesia to get low interest loan from Japan to buy ships

Indonesia to get low interest loan from Japan to buy ships

Jakarta: The Japanese government has offered a low interest loan of US$200 million to Indonesia's Transport Ministry for ship procurement, an official said. The loan will carry an annual interest rate of 1.3 per cent, said Indonesia's Sea Transport Director General Effendi Batubara.
Mr Batubara said the government is studying schemes for the distribution of the loan to ship building companies either through a state company or banks, adding that at least seven ship building companies want the loan.
According to the minister the Japanese government, through Japan Bank for International Cooperation (JBIC), has also offered assistance for port development. [26/03/08]

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