A loan commitment of US$150 million has been made for the project preparations."Jakarta (ANTARA News) - The Indonesian government will secure US$150 million in foreign loans to help finance preparations for infrastructure projects, National Development Planning Minister Sofyan Djalil stated.
The loans will provide the government with the necessary funding to accomplish all phases of the 2016 project preparations by the end of this year, he stated at a meeting of investors here on Monday.
The phases of project preparations include feasibility study, technical engineering design, land clearance, and project documentation, he revealed.
"We first borrow money as part of the funds available to entirely finance the project preparations," he affirmed.
"A loan commitment of US$150 million has been made for the project preparations," he noted.
With optimum preparations, the project will be completed on schedule, he emphasized.
In addition, he remarked that creditors and private institutions will be more convinced to finance non-state budget projects.
President Joko Widodo (Jokowi) has given a mandate to the National Development Planning Ministry/National Development Planning Agency (Bappenas) to supervise the preparations for infrastructure projects.
Bappenas once stated it would receive an additional budget allocation of Rp1 trillion to finance the project preparations.
Sofyan emphasized that the project preparations have currently become the governments priority.
Until early December 2015, technical ministries are still working hard to finalize the project preparations, he added.
(Reported by Indra Arief Pribadi/Uu.INE/KR-BSR/A014)
Editor: Priyambodo RH
Copyright © ANTARA 2015
