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Wednesday, September 17, 2008

ADB and IDB agree to co-finance projects in Indonesia http://sukses-trading.blogspot.com/ Jakarta (ANTARA News) - The Asian Development Bank (ADB) and the Islamic Development Bank (IDB) have signed a co-financing agreement to raise up to US$4 billion in fresh funds to finance projects in a number of member states, including Indonesia in the next three years. Under the agreement, the two international institutions will make available US$2 billion each for the projects, the ADB said in its official website on Tuesday. The agreement would focus on financing infrastructure projects covering irrigation and urban sectors. In a number of certain countries, the education, health, etc. sectors may have a chance of securing financing from the agreement. "The agreement is in line with the Accra Summit and other international declarations within the frame of building development effectiveness and harmony," IDB Vice President Amadou Cisse said. In addition, the agreement would also make it possible for the adoption of a new platform in which the two institutions could raise third party funds from investors in other member states, ADB Director General for Central and West Asia Juan Miranda said. "The agreement is consistent with the ADB`s 2020 strategy and the IDB`s 1440 Hijrah vision," IDB Director for Asia Walid Abdelwahab said.

ADB and IDB agree to co-finance projects in Indonesia

http://sukses-trading.blogspot.com/

Jakarta
(ANTARA News) - The Asian Development Bank (ADB) and the Islamic
Development Bank (IDB) have signed a co-financing agreement to raise up
to US$4 billion in fresh funds to finance projects in a number of
member states, including Indonesia in the next three years.

Under
the agreement, the two international institutions will make available
US$2 billion each for the projects, the ADB said in its official
website on Tuesday.

The agreement would focus on financing
infrastructure projects covering irrigation and urban sectors. In a
number of certain countries, the education, health, etc. sectors may
have a chance of securing financing from the agreement.

"The
agreement is in line with the Accra Summit and other international
declarations within the frame of building development effectiveness and
harmony," IDB Vice President Amadou Cisse said.

In addition, the
agreement would also make it possible for the adoption of a new
platform in which the two institutions could raise third party funds
from investors in other member states, ADB Director General for Central
and West Asia Juan Miranda said.

"The agreement is consistent
with the ADB`s 2020 strategy and the IDB`s 1440 Hijrah vision," IDB
Director for Asia Walid Abdelwahab said.



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