JAPAN TO EXTEND TRADE FINANCING TO INDONESIAN IN 2009
04 April 2009
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Japan will extend at least 500 million US dollars in trade financing to Indonesia this year to assist the Southeast Asian country's economy, an official said Friday.

Japanese Vice Ambassador to Indonesia Takio Yamada was quoted by AFP asa telling Dow Jones Newswires  
that the financing would be provided by the Japan Bank for International Cooperation.

Yamada did not elaborate on the plan.

The 500 million dollar financing package comes after Japan doubled the size of a currency swap with Indonesia to 12 billion dollars earlier this year.

Japan will also provide 1.5 billion dollars in guarantees for Indonesia's planned yen-denominated bond, and a standby loan commitment of 1.5 billion dollars this year.

Indonesia's total standby loan is also comprised of two billion dollars from the World Bank and one billion each from Australia and the Asian Development Bank.

Yamada said that during the Group of 20 summit in London, Indonesian President Susilo Bambang Yudhoyono had requested to Prime Minister Taro Aso for Japan to increase its investment in Indonesia's oil, natural gas and coal sectors.

Aso then asked Indonesia to "ensure stability of liquefied natural gas (LNG) supplies, to make sure Japan's LNG supply needs are met," said Yamada.

Indonesia, Southeast Asia biggest economy, is the second-largest supplier of LNG to Japan after Malaysia. 

 

Sumber: Antara News online - www.antara.co.id