World Bank approves $300 million loan for Indonesia's financial sector reforms By Reuters

World Bank approves $300 million loan for Indonesia's financial sector reforms

EconomyMar 23, 2020 02:55AM ET

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World Bank approves $300 million loan for Indonesia's financial sector reforms

JAKARTA (Reuters) - The World Bank said on Monday it has approved a $300 million loan for Indonesia to assist in financial sector reforms.

The loan will provide budget support for Indonesia's reform agenda by expanding financial market outreach, allowing more focus on technology, and promoting sustainable finance practice, it said in a statement.

The approval came after the Indonesian government announced that the 2020 budget deficit may widen beyond its current forecast of 2.5% of gross domestic product amid pressures from coronavirus outbreak.

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Comments (1)

Wonje Cho Mar 23, 2020 3:17AM ET

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financial sector reforms = colonization Too sad to hear it Indonesians.

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World Bank approves $300 million loan for Indonesia's financial sector reforms

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