AIIB's US$17 bln funding for Indonesia is regular loan: minister

Beijing (ANTARA) - Indonesia's Finance Minister Purbaya Yudhi Sadewa said the US$17 billion financing commitment secured from the Asian Infrastructure Investment Bank (AIIB) is a regular loan facility.

"The loan is a normal facility regularly given to other countries at the same rate," Purbaya said in Beijing, China, on Thursday night.

The statement followed meetings with Chinese Finance Minister Lan Fo'an, representatives of the People's Bank of China (PBOC), the AIIB, and investors during his official visit to China from June 16-19.

"We managed to secure a loan commitment worth US$17 billion through 2029. This means AIIB has made the funding available. The question now is whether we will use it to finance our infrastructure development," Purbaya said.

The financing commitment forms part of the Multi-Year Rolling Pipeline framework agreed with AIIB.

Purbaya said AIIB had also expressed interest in establishing a representative office in Jakarta.

Related news: Cooperation with AIIB crucial for infrastructure development: minister

"AIIB also expressed interest in establishing an office in Jakarta. We told them that we are open to the idea, and the office will likely be located in Jakarta," he said.

The minister added that the government would work to facilitate the plan, with preparations expected to take about one year.

"The target is June next year. They may begin relocating part of their operations and start working from the office by then," he said.

Purbaya also said AIIB continued to show strong confidence in Indonesia's fiscal condition.

According to him, the institution has no concerns regarding Indonesia's fiscal management or economic prospects.

"They are confident in our credibility and fiscal creativity," he said.

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Translator: Desca Lidya, Tegar Nurfitra

Editor: Anton Santoso

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