Govt Gets Japan Loan for Undersea Cable
Bareksa • 01 Jul 2014
Indonesian President Yudhoyono delivers a speech during his visit at the presidential palace in Manila (REUTERS/Romeo Ranoco)
The government will borrow $993.8 million from Japan.
Bareksa.com - As quoted from Jakarta Globe, President Susilo Bambang Yudhoyono has approved the government’s plan to borrow money from Japan to lay an undersea electricity cable from Java to Sumatra.
“The total amount of investment for the project is $ 2.12 billion, comprising four stages. The funding for stages one and two is already available,” said Armida Alisjahbana, the minister for national development planning.