RI appreciates Australia's US$1.5-billion loan in combating COVID-19

RI appreciates Australia's US$1.5-billion loan in combating COVID-19

Finance Minister Sri Mulyani

Jakarta (ANTARA) - Indonesian Finance Minister Sri Mulyani Indrawati lauded the Government of Australia for offering a loan of 1.5 billion Australian dollars, with a tenor of 15 years, to aid in tackling the COVID-19 pandemic.

"We are diversifying our financing. Support from Australia, through the provision of a loan of 1.5 billion Australian dollars to Indonesia, is a support that we really appreciate," the minister remarked here on Thursday.

Indrawati stated that the Australian government’s loan will complement the state budget as a fiscal instrument, currently under immense pressure, as the deficit had widened by 6.34 percent.

The loan will be channeled to handle the impact of the pandemic, including to support the health sector, MSMEs, and businesses, as well as for social protection.

"This also maintains the security and sustainability of our fiscal range. We really laud the support, both personally and from the Australian government," she affirmed.

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The offered loan reflects the strong friendship and partnership between Indonesia and Australia to support one another to tackle the health crisis, she emphasized.

"We both have a common goal to recover and strengthen since we cannot heal alone with this COVID-19 pandemic," he remarked.

Australian Finance Minister Josh Frydenberg affirmed that the loan is reflective of a period of health crisis that calls for unified efforts for recovery in both countries.

“In these challenging times, the strength of the relationship between Australia and Indonesia is more important than ever. This relationship is more than just trade and economy," he noted.

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